Albert Ando

Albert Ando is Professor of Economics and Finance at the University of Pennsylvania.

  • The Structure and Reform of the US Tax System

    The Structure and Reform of the US Tax System

    Albert Ando, Irwin Friend, and Marshall E. Blume

    Where the US tax system stands today, how it evolved, and how it should be changed.

    The structure and reform of the US tax system is one of today's most hotly debated issues. This book provides a clear description of where the system stands today and how it evolved. Most importantly, it outlines the principles by which a tax system should be designed and assesses current flat-tax and consumption-based proposals for tax reform in terms of whether they measure up to these principles. An introduction and summary provide an overview of the tax system, (including sources of revenue and trends in sources) and its relative impact on various groups and industries. Chapter 2 describes the current US tax structure and its incidence, and corrects a number of common misconceptions (income from capital is actually taxed less heavily than income from labor; the rich generally do not pay an appreciably higher proportion of their income in taxes than poorer groups.) Basic issues and problems in tax policy are analyzed in chapter 3, which points out that there is no strong scientific basis for believing that shifting income taxes from capital to labor or from upper to lower income groups would have a substantial long-run effect on saving or capital formation; in fact, the adverse impact on the labor supply could outweigh the beneficial effect on capital formation. The final three chapters take up the major types of taxation: personal income taxes, corporate income taxes, and consumption taxes. Attention is focused in particular on the congressional "flat tax" proposals by Bradley-Gephardt and Kemp-Kasten (the Treasury's proposal is summarized in the book's preface). A concluding chapter examines the advantages and disadvantages of two new forms of taxation-the value-added tax, which has been used extensively in Europe, and the as yet untested comprehensive cash-flow tax that has received substantial academic support in recent years. These consumption-based taxes represent a substantial departure from the present US tax structure, which is based primarily upon income.

    • Hardcover $25.00
  • Monetary Policy in Our Times

    Monetary Policy in Our Times

    Proceedings of the First International Conference

    Roger E. A. Farmer, Albert Ando, Hidekazu Eguchi, and Yoshio Suzuki

    The monetary side of domestic and international economic policy has generated increasingly intense debate and concern within and among the major industrial countries over the last several years. Recently, the Bank of Japan's Institute for Monetary and Economic Studies brought together leading academics and prominent economists of central banks and international organizations to analyze and discuss the key problems and issues of monetary policy of developed countries. Collected in this volume are their original contributions: eight essays that cover monetary policy in an uncertain world, domestic and international aspects of monetary policy, and policies to overcome stagflation. In particular, they recognize and provide a lively forum for the different views of academic and central bank economists.

    The essays are "Monetarism in Rhetoric and in Practice," by Milton Friedman; "Monetary Policy in an Uncertain World," by James Tobin; "The Conduct of Domestic Monetary Policy," by Robert Gorden; "Monetary Policy in Postwar Japan," by K. Hamada and F. Hayashi; "Monetary Policy in the Large Open Economy," by Michael Darby; "Alternative Approaches to Exchange-Rate Determination and Some Implications of the Structural Balance-of-Payments Approach for International Macroeconomic Interdependence," by Akihiro Amano; "'Reaganomics' and Credibility," by Thomas Sargent; and "Coordination of Monetary and Fiscal Policies," by Albert Ando.

    • Hardcover $46.00
    • Paperback $40.00
  • Essays on the Structure of Social Science Models

    Essays on the Structure of Social Science Models

    Albert Ando, Franklin M. Fisher, and Herbert A. Simon

    A set of related papers dealing with the meaning of causality in simulataneous dynamic equation systems. Investigation of the systems which only approximately satisfy the conditions enabling the definition of causality, leads to a set of limiting theorems concerning the dynamic behavior of such systems over time, and estimation procedures for the parameters of such systems. Implications of these theorems for some well-known propositions in economics and other social sciences are considered.

    • Hardcover $7.95
    • Paperback $25.00