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Where Does He Find the Time?

Andrew Samwick.jpgSome people seem to have more than 24 hours in their day. Economics Professor Andrew Samwick was New Hampshire Professor of the Year in 2009, and as I pointed out at the time, he wins the Dartblog award every year for the Professor Most Likely to be in His Office When I Happen to be Walking Through Rocky and Knock on His Door — he is almost always talking to a student. He is a nationally recognized expert on Social Securty, and in 2003 he served as the chief economist for the President’s Council of Economic Advisors. Though he has run the Rockefeller Center for a decade now, he still seems to be able to find time for research on topics of real moment. Here’s the abstract for his most recent publication (with Bill Gale): Effects of Income Tax Changes on Economic Growth.

This paper examines how changes to the individual income tax affect long-term economic growth. The structure and financing of a tax change are critical to achieving economic growth. Tax rate cuts may encourage individuals to work, save, and invest, but if the tax cuts are not financed by immediate spending cuts they will likely also result in an increased federal budget deficit, which in the long-term will reduce national saving and raise interest rates. The net impact on growth is uncertain, but many estimates suggest it is either small or negative. Base-broadening measures can eliminate the effect of tax rate cuts on budget deficits, but at the same time they also reduce the impact on labor supply, saving, and investment and thus reduce the direct impact on growth. However, they also reallocate resources across sectors toward their highest-value economic use, resulting in increased efficiency and potentially raising the overall size of the economy. The results suggest that not all tax changes will have the same impact on growth. Reforms that improve incentives, reduce existing subsidies, avoid windfall gains, and avoid deficit financing will have more auspicious effects on the long-term size of the economy, but may also create trade-offs between equity and efficiency.

A subject of importance to our ongoing national debate on economic policy, you will agree, no? Of note also, the paper was published by the Tax Policy Center of the Urban institute and The Brookings Institution.

Look at Samwick’s list of publications on Google Scholar. He has seventeen publications that each have been cited more than one hundred times by other researchers.

Addendum: Samwick is one of the Economics department’s many rock stars. In the photo below, he chats in 2011 with then-outgoing Secretary of the Treasury Tim Geithner ‘83:

Samwick Geithner.jpg

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