Regionalism, Federalism, and Taxation: A Food and Farm Perspective

This report documents an applied general equilibrium model of the United States. The model features explicit treatment of Federal, State, and local taxes and is segmented into 10 distinct subregions. These subregions engage in inter- and intraregional trade, as well as international trade. Each region is distinguished by its unique composition of industries, capital markets, and patterns of trade. Regional data developed for calibrating the model are discussed and several tax policy reform simulations demonstrate the modeling capabilities.

Keywords: Cost of capital, fiscal policy, marginal effective tax rate, regional applied general equilibrium, regional household welfare, State and Federal taxation and reform

In this publication...

Entire Report
Frontmatter (Title page, Contents, Summary)
Introduction
Background
Overview of a U.S. Multi-Regional Applied General Equilibrium Model
Disposition of Industries and Primary Factors of Production
Taxation
Simulated Effects of Comprehensive Tax Reform in the United States
Conclusion
References and Appendix