Partial-equilibrium behavioral-responses module that works with Tax-Calculator
Behavioral-Responses, which is part of the Policy Simulation Library (PSL) collection of USA tax models, estimates partial-equilibrium behavioral responses to changes in the US federal individual income and payroll tax system as simulated by Tax-Calculator. It provides two ways of doing this: (1) the
response function, which contains higher-level logic that supports the Tax-Brain "Partial Equilibrium Simulation" capability and requires specification of only the elasticities, and (2) the
quantity_response function, which contains lower-level logic that requires specification of the quantity whose response is to be estimated, requires specification of the marginal tax rates and elasticities to be used in the response calculation, and allows the response estimation to be conducted by subgroup with different elasticities for each subgroup.
- Martin Holmer
- Matt Jensen
Evaluates the effect of US federal taxes on businesses' investment incentives
Cost-of-Capital-Calculator is a model that can be used to evaluate the effect of US federal taxes on the investment incentives of corporate and non-corporate businesses. Specifically, Cost-of-Capital-Calculator uses data on the business assets and financial policy, as well as microdata on individual tax filers, to compute marginal effective tax rates on new investments. In modeling the effects of changes to the individual income tax code, Cost-of-Capital-Calculator works with Tax-Calculator, another open source model of US federal tax policy. Cost-of-Capital-Calculator is written in Python, an interpreted language that can execute on Windows, Mac, or Linux.
- Jason DeBacker
Overlapping-Generations Model for Evaluating Fiscal Policy in the United States
OG-USA is an overlapping-generations (OG) model of the economy of the United States (USA) that allows for dynamic general equilibrium analysis of federal tax policy. The model output focuses changes in macroeconomic aggregates (GDP, investment, consumption), wages, interest rates, and the stream of tax revenues over time. Careful documentation of the model--its output, and solution method--is available here and is regularly updated.
Library for parameter processing and validation with a focus on computational modeling projects
Integrator package for multiple open source tax models
Tax-Brain makes it easy for users to simulate the US tax system by providing a single interface for multiple tax models. Currently, Tax-Brain interfaces with Tax-Calculator and Behavior-Response. Additional models will be added in the near future to expand Tax-Brain's capabilities to include modeling business taxation and running dynamic general equilibrium simulations.
To learn more about how Tax-Brain works, see this document.
- Anderson Frailey
Tax-Calculator is an open-source microsimulation model for static analysis of USA federal income and payroll taxes.