KEVIN A. HASSETT

Curriculum Vitae

AmericanEnterpriseInstitute Telephone:202.862.7157115017thSt,NW Email:KHassett@aei.orgWashington,DC20036POSITIONS:StateFarmJamesQ.WilsonChairinAmericanPoliticsandCulture,AmericanEnterpriseInstituteforPublicPolicyResearch,February2014-presentDirectorofResearchforDomesticPolicy,AmericanEnterpriseInstituteforPublicPolicyResearch,February2016-presentSeniorAcademicAdvisor,TheLindseyGroup,September2016-presentJohnG.SearleSeniorFellow,AmericanEnterpriseInstituteforPublicPolicyResearch,December2012-February2014DirectorofEconomicPolicyStudies&ResidentScholar,AmericanEnterpriseInstituteforPublicPolicyResearch,2003-2016ResidentScholar,AmericanEnterpriseInstituteforPublicPolicyResearch,1997-2014NationalReviewColumnist,2005-presentEconomicadvisor,MittRomneyPresidentialCampaign,2012BloombergColumnist,2005-2011Senioreconomicadviser,JohnMcCainPresidentialCampaign,2008Visitingprofessor,NewYorkUniversityLawSchool,Spring2008Economicadviser,GeorgeW.BushPresidentialCampaign,2004Member,BoardofScholarsAmericanCouncilforCapitalFormation,CenterforPolicyResearch,November2001-presentChiefEconomist,McCain2000,1999-2000

SeniorEconomist,DivisionofResearchandStatistics,BoardofGovernorsoftheFederalReserveSystem,1995-1997Economist,DivisionofResearchandStatistics,BoardofGovernorsoftheFederalReserveSystem,1992-1995AssociateProfessor,GraduateSchoolofBusiness,ColumbiaUniversity,NewYork,NY,1993-1994AssistantProfessor,GraduateSchoolofBusiness,ColumbiaUniversity,NewYork,NY,1989-1993EDUCATION:UniversityofPennsylvania,Philadelphia,PAPh.D.,Economics,1990Fellowships:

• AlfredP.SloanFoundationDoctoralDissertation,1988-1989• SloanFoundationFellow,1987-1988• UniversityofPennsylvaniaFellow,1984-1986

Dissertation:“EssaysinAppliedEconometrics”Supervisor:AlanAuerbachSwarthmoreCollege,Swarthmore,PAB.A.,Economics,1984

• HighHonors• PhiBetaKappa• AmosJ.PeasleeScholarship• Captain,Men’sVarsityTrack

SCHOLARLYPUBLICATIONS:“FootballunderPressure:AssessingMalfeasanceinDeflategate,”withJosephW.SullivanandStanVeugerinJournalofSportsAnalytics,December2015.(link)“TheResponseofDeferredExecutiveCompensationtoChangesinTaxRates,”withAspenGorry,GlenHubbard,andAparnaMathur,inJournalofPublicEconomics,August2015(link)“CapitalTaxationinthe21stCentury,”withAlanJ.AuerbachinAmericanEconomicReview:PapersandProceedings,May2015.(link)“ASpatialModelofCorporateTaxIncidence”withAparnaMathurinAppliedEconomics,January2015.(link)

“IsNewspaperCoverageofEconomicEventsPoliticallyBiased?”withJohnR.Lott.PublicChoice,160(1-2):65-108,July2014(link).Alsoin,AEIPapersandStudies,October18,2004(link)“RecentDevelopmentsintheDynamicFiscalPolicyLiterature,”withAspenGorry,TaxNotes,December2013.(link)“BenefitsofHydraulicFracking,”withAparnaMathur.OxfordEnergyForum,Issue91,OxfordInstituteforEnergyStudies.2013.(link)“TieboutandCompetitiveness,”withR.GlennHubbardandMatthewH.Jensen,in:RethinkingCompetitiveness,ed.KevinHassett.AEIPress2012.(link)“Spending,Taxes,andCertainty:ARoadMapto4%,”inThe4%Solution:UnleashingtheEconomicGrowthAmericaNeeds,ed.BredanMiniter.TheBushInstitute2012.(link)“DistributionalImpactsinaComprehensiveClimatePolicyPackage,"withGilbertE.MetcalfandAparnaMathur.NBERChapters,in:TheDesignandImplementationofU.S.ClimatePolicy,NationalBureauofEconomicResearch,Inc.UniversityofChicagoPress(2012),ed.DonFullertonandCatherineWolfram.(link)“ANewMeasureofConsumptionInequality”withAparnaMathur,AEIEconomicStudies,June2012.(link)“TheConsumerBurdenofaCarbonTaxonGasoline,”withAparnaMathurandGilbertE.Metcalf,FuelTaxesandthePoor:TheDistributionaleffectsofgasolinetaxationandtheirimplicationsforclimatepolicy,ThomasSterner,ed.RFFPress,2011.(link)“AGuideforDeficitReductionintheUnitedStatesBasedonHistoricalConsolidationsthatWorked”withAndrewG.BiggsandMatthewH.Jensen,AEIEconomicworkingPaper2010-04,December2010.(link)“SpatialTaxCompetitionandDomesticWages,”withAparnaMathur,AEIPapersandStudies,December2010.(link)“FundamentalTaxReforminCalifornia,”withAlanD.ViardandAlexWein,TaxNotes,October2009.(link)“MovingtowardaUnifiedCreditforLow-IncomeWorkers,”withLawrenceB.LindseyandAparnaMathur,TaxNotes,August2009.(link)“ANot-So-NewDirectionforTaxPolicy,”HooverInstitution’sTaskForceonPropertyRights,Freedom,andProsperity,May,2009.(link)“WhyFiscalStimulusisUnlikelytoWork,”InternationalFinance12:1,2009:pp.75–91(link)“IncidenceofaU.S.CarbonTax:ALifetimeandRegionalAnalysis,”withAparnaMathurand

GilbertMetcalf.EnergyJournal.2009.(link)“TaxationandBusinessBehavior:AReviewoftheRecentLiterature,”withKathrynNewmark,FundamentalTaxReform:Issues,Choices,andImplications,DiamondandZodroweds,MITPress,2008(link)“OptimalLong-RunFiscalPolicy:Constraints,preferencesandtheresolutionofuncertainty,”withAlanAuerbach,JournalofEconomicDynamicsandControl,Volume31,Issue5,2007(link)“TheTaxationofCorporateGainsonSalesofDepreciableProperty:AnEconomicAnalysis,”withAlanD.Viard,TaxNotes,2007.(link)“The2003DividendTaxCutsandtheValueoftheFirm:AnEventStudy,”withAlanJ.Auerbach,TaxingCorporateIncomeinthe21stCentury,AlanAuerbach,JamesHines,JoelSlemrod,eds.;CambridgeUniversityPress,2007(link)“Investment,”TheConciseEncyclopediaofEconomics,DavidHenderson,eds;2007.(link)“HowdoTaxPoliciesAffectLow-IncomeWorkers?”withAnneMoore,WorkingPoor:HowEconomicandPolicyChangesAreAffectingLow-WageWorkers,RebeccaBlank,SheldonDanziger,andRobertsSchoeni,eds.;2006(link)“InvestmentBehavior,ObservableExpectations,andInternalFunds,”withJasonG.Cummins,KevinA.Hassett,andStephenD.Oliner,AmericanEconomicReview,June2006(link)“DividendTaxesandFirmValuation:NewEvidence,”withAlanJ.Auerbach,AmericanEconomicReview,May2006(link)“MarginalTaxRatesin2004vs.1988”AEIPapersandStudies,March21,2006.(link)“NewEvidenceontheDynamicsofDrugDiscovery,”withKathrynG.Newmark,AEIPapersandStudies,March15,2006.(link)“Top10MythsofSocialSecurityReform,”withJeffreyR.BrownandKentSmetters,TheElderLawJournal,Volume13,Number2,2005(link)“TheEconomicValueofIntellectualProperty,”withRobertJ.Shapiro,Mimeo,October2005(link)"TheSteelIndustry:AnAutomotiveSupplierPerspective"withBrianBecker,Mimeo,February16,2005(link)Commenton,“TheRoleofU.S.TaxPolicyinOffshoring”,KimberlyClausinginBrookingsTradeForum2005:OffshoringWhite-CollarWork—TheissuesandImplications,LaelBrainardandSusanM.Collins,TheBrookingsInstitution,2005,483-485(link)

“AnAnalysisoftheTen-YearCostsofSenatorKerry'sSpendingProposals,”withEricEngen,AEIPapersandStudies,August12,2004.(link)“PriceControlsandtheEvolutionofPharmaceuticalMarkets,”AEIPapersandStudies,July23,2004(link)–noactualpaperonline,paperishere:(link)“TheEconomicandLegalConsequencesofRequiringtheExpensingofEmployeeStockOptionsWithoutSpecifyingtheValuationMethod,”withPeterJ.Wallison,WorkingPaper,December2003(link)“DoBudgetDeficitAnnouncementsMoveInterestRates?”withCharlesCalomiris,EricEngen,andR.GlennHubbard,WorkingPaper,December2003“IncreasedInvestment,LowerPrices:TheFruitsofPastandFutureTelecomCompetition,”withL.KotlikoffandZ.Ivanova,NBERWorkingpaper,September2003(link)“TheEffectofDividendTaxReliefonInvestmentIncentives,”withRobertCarroll,andJamesB.MackieIII,NationalTaxJournal,Volume56,September2003(link)"OntheMarginalSourceofInvestmentFunds,"withA.Auerbach,JournalofPublicEconomicsVol.81/1,pgs.205-232December2002.(link)“FiscalPolicyandUncertainty,”withAlanJ.Auerbach,InternationalFinance,Fall2002.(link)“DoestheUSCorporateTaxHaveaFuture?”30thAnniversaryIssueofTaxNotes,Fall2002.(link)“ANewMeasureofHorizontalEquity,”withA.Auerbach,AmericanEconomicReview,September2002.(link)“TheEffectsofTemporaryPartialExpensingOnInvestmentIncentivesintheUnitedStates,”withD.CohenandD.-P.Hansen,NationalTaxJournal,September2002.(link)“MarginalTaxRateCutsandthePublicTaxDebate”,withC.Calomiris,NationalTaxJournal,March2002.(link)“TaxPolicyandBusinessInvestment,"withR.G.Hubbard,HandbookofPublicEconomicsVol.III,AuerbachandFeldsteineds.,ElsevierScienceB.V.,2002.(link)“UncertaintyandtheDesignofLong-RunFiscalPolicy,”withA.Auerbach,DemographicChangeandFiscalPolicy,A.AuerbachandR.Leeeds,73-92,CambridgeUniversityPress,2001.(link)“MeasuringtheReturnstoEnergyConservationInvestments:EvidencefromMonthlyBillingData,”withG.Metcalf,inReviewofEconomicsandStatistics,August1999.(link)

“InvestmentandUnionCertification,”withB.Fallick,JournalofLaborEconomics,July1999.(link)“InvestmentwithUncertainTaxPolicy:DoesRandomTaxPolicyDiscourageInvestment?”withG.Metcalf,TheEconomicJournal,July1999.(link)“InflationandtheUserCostofCapital:DoesInflationStillMatter?”withD.CohenandR.G.Hubbard,TheCostsandBenefitsofPriceStability,Feldsteined.,Chicago:UniversityofChicagoPress,1999.(link)“Inflation,Taxes,andtheDurabilityofCapital,”withD.Cohen,NationalTaxJournal,March1999.(link)“AreInvestmentIncentivesBluntedbyChangesinPricesofCapitalGoods?”withR.G.Hubbard,InternationalFinance,October1998.(link)“TaxPolicyandInvestment,”withR.G.Hubbard,inFiscalPolicy:LessonsfromtheLiterature,A.Auerbached.,1997,339-385,MITPress.(link)“TaxReformsandInvestment:ACross-CountryComparison,”withJ.CumminsandR.G.Hubbard,JournalofPublicEconomics,62(1996),237-273.(link)“CanIrreversibilityExplaintheSlowDiffusionofEnergySavingTechnologies?”withG.Metcalf,EnergyPolicy,January1996.(link)“InvestmentUnderAlternativeReturnAssumptions:ComparingRandomWalksandMeanReversion,”withG.Metcalf,JournalofEconomics,Dynamics,andControl,1996.(link)“UnionizationandAcquisitions,”withB.Fallick,JournalofBusiness,1996,69(1),50-73.(link)“EnergyTaxCreditsandResidentialConservationInvestment:EvidencefromPanelData,”withG.Metcalf,JournalofPublicEconomics,57(1995),201-217.(link)“InternationalAccounting,AsymmetricInformation,andFirmInvestment,”withJ.CumminsandT.Harris,TaxingMultinationalCorporations,M.Feldstein,J.HinesandR.G.Hubbardeds.,95-102,UniversityofChicagoPress,1995.(link)“HaveTaxReformsAffectedInvestment?”withJ.CumminsandR.G.Hubbard,inTaxPolicyandtheEconomy,J.Poterbaed.,1995(9)131-150,MITPress.(link)“TaxationandCorporateInvestment:TheImpactofthe1991SwedishTaxReform,”withA.AuerbachandJ.Sodersten,SwedishEconomicPolicyReview,1995,(2),361-384.(link)

“AccountingStandards,InformationFlowandBusinessFixedInvestment,”withJ.CumminsandT.Harris,inTheEffectsofTaxationonMultinationalCorporations,M.Feldstein,J.HinesandR.G.Hubbardeds.,1995,181-224,UniversityofChicagoPress.(link)“ReassessingtheSocialReturnstoEquipmentInvestment,”withA.AuerbachandS.Oliner,QuarterlyJournalofEconomics,1994,109(3),789-802.(link)“AReconsiderationofInvestmentBehaviorUsingTaxReformsasNaturalExperiments,”withJ.CumminsandR.G.Hubbard,BrookingsPapersonEconomicActivity,1994,(2),1-74.(link)“WhoPaysBroadBasedEnergyTaxes?ComputingLifetimeandRegionalIncidence,”withN.BullandG.Metcalf,TheEnergyJournal,1994,15(3),145-164.(link)“EnergyConservationandInvestment:DoConsumersDiscounttheFutureCorrectly?”withG.Metcalf,EnergyPolicy,June1993,710-716.(link)“TaxationandForeignDirectInvestmentintheUnitedStates:AReconsiderationoftheEvidence,”withA.Auerbach,inStudiesinInternationalTaxation,A.Giovannini,R.G.HubbardandJ.Slemrod,eds.,UniversityofChicagoPress,1993.(link)“TaxPolicyandBusinessFixedInvestmentintheU.S.,”withA.Auerbach,JournalofPublicEconomics,1992,47(2),141-170.(link)“TheEffectsofTaxationonInvestment:NewEvidencefromFirmLevelPanelData,”withJ.Cummins,NationalTaxJournal,1992,45(3),243-251.(link)“InstrumentChoiceandTestsforaUnitRoot,”withA.Hall,EconomicsLetters,1991,35,161-165.(link)“RecentU.S.InvestmentBehaviorandtheTaxReformActof1986:ADisaggregateView,”withA.Auerbach,CarnegieRochesterConferenceSeriesonPublicPolicy,1991,35,185-215.(link)“CorporateSavingandShareholderConsumption,”withA.Auerbach,inD.BernheimandJ.Shoveneds.,NationalSavingandEconomicPerformance,Chicago,UniversityofChicagoPress,1991.(link)“Investment,TaxPolicyandtheTaxReformActof1986,”withA.Auerbach,inDoTaxesMatter?:TheImpactoftheTaxReformActof1986,J.Slemroded.,MITPress,1990.(link)BOOKSANDPAMPHLETS:OpportunityForAll:HowToThinkAboutIncomeInequality,KevinA.Hassett,chaptercontributor,AEIPress,March2014.(link)Rethinkingcompetitiveness.KevinA.Hassett,ed.AEIPress,2012.(link)

TowardFundamentalTaxReform.AlanAuerbachandKevinHassetted.AEIPress.May,2005(link)Bubbleology:TheNewScienceofStockMarketWinnersandLosers,CrownBusiness,July2002.(link)InequalityandTaxPolicy,withR.G.Hubbard,eds.,AEIPress,December2001.(link)TransitionalCostsofFundamentalTaxReform,withR.G.Hubbard,eds.,AEIPress,March2001.(link)Dow36,000,withJ.Glassman,RandomHouse,September1999:TheNewYorkTimes,USAToday,BusinessWeek,andtheWallStreetJournalbestseller.(link)TheMagicMountain:AGuidetoDefiningandUsingaBudgetSurplus,withG.Hubbard,AEIPress,March1999.(link)TaxPolicyandInvestment,AEIPress,September1999.(link)WORKINGPAPERS:“OntheWellsReport,”withJosephW.SullivanandStanA.Veuger.AEIEconomicPerspective,June2015.(link)“CapitalTaxationinthe21stCentury,”withAlanJ.Auerbach.NationalBureauofEconomicResearchWorkingPaperno.20871,January2015.(link)“TheElasticityofDeferredIncomeWithRespecttoMarginalIncomeTaxRates”(withAspenGorry,R.GlennHubbard,andAparnaMathur).PaperpresentedattheNBERTrans-AtlanticPublicEconomicsSeminar,June2014(Vienna,Austria).CurrentlyunderconsiderationforSpecialIssueofJournalofPublicEconomics.“ReportCardonEffectiveCorporateTaxRates:UnitedStatesGetsandF,”withAparnaMathur,AEITaxPolicyOutlook,February2011.(link)“AGuideforDeficitReductionintheUnitedStatesBasedonHistoricalConsolidationsthatWorked,”withAndrewG.BiggsandMattJensen,AEIEconomicPolicyWorkingPaper2010-04,December2010.(link)“DistributionalImpactsinaComprehensiveClimatePolicyPackage,”withAparnaMathurandGilbertE.Metcalf,AEIEconomicPolicyStudiesWorkingPaper#2010-03,June2010.(link)“TheTaxHikeonCarriedInterest,”withAlanD.Viard,AEITaxPolicyOutlook,June2010.(link)“TaxesAroundtheWorld:ABriefHistoryofWorldTaxPolicy,1981-2007,”withAparnaMathur,AEIWorkingPaper#161,December2009(link)

“TheDeficitEndgame,”withDesmondLachmanandAparnaMathur,AEIWorkingPaper#160,September,2009.(link)“MovingTowardsaUnifiedCreditforLowIncomeWorkers,”withLawrenceB.LindseyandAparnaMathur,AEIWorkingPaper#150,August,2009.(link)“TheConsumerBurdenofaCarbonTaxonGasoline,”withAparnaMathurandGilbertE.Metcalf,AEIWorkingPaper#147,May,2009.(link)“TheConsumerBurdenofaCap-and-TradeSystemwithFreelyAllocatedPermits”withAparnaMathurandGilbertE.Metcalf,AEIWorkingPaper#144,December2008.(link)“PredictingTaxReform,”withAparnaMathur,AEIWorkingPaper#138,August2007.(link)“Revenue-MaximizingCorporateIncomeTaxes,”withAlexBrill,AEIWorkingPaper#137,July2007.(link)“TheTaxationofCorporateGainsonSalesofDepreciableProperty,”withAlanViard,AEIWorkingPaper#136,June2007(link)“AnEmpiricalAnalysisofMiddleClassWelfare:TestingAlternativeApproaches,”withAparnaMathur,AEIWorkingPaper#134,January2007(link)“TaxesandWages,”withAparnaMathur,AEIWorkingPaper#128,July2006(link)“AssessingtheEconomicGainsfromTelecomCompetition,”withRichardN.Clarke,LaurenceKotlikoff,ZoyaIvanova,NBERWorkingpaper#10482,May2004:(link)“TheFiscalandSocialCostsofConsolidatingStudentLoansatFixedInterestRates,”withRobertShapiro,AEIWorkingPaperSeries#104,April2004(link)“TheRoleofCompetitioninStimulatingTelecomInvestment,”withLawrenceJ.Kotlikoff,AEIWorkingPaper,October2002.(link)“StructuralEstimatesofFactorSubstitutionfromFirm-LevelPanelDataonMultinationalCorporations,”Mimeo,withJ.Cummins,February1999.(link)“KnowingWhat’sGoodForYou:EnergyConservationandtheUninformedConsumerHypothesis,”Mimeo,A.BrillandG.Metcalf,1999.(link)“CapitalTaxationinaDynamicStructuralModeloftheMultinationalFirm,”withJ.Cummins,Mimeo,August1997.“AreUSInvestmentandCapitalStocksatOptimalLevels?”withD.CohenandJ.Kennedy,FEDSworkingpaper95-32,July1995.

“ANonlinearFilteringTechniqueforEstimatingtheTimingandImportanceofLiquidityConstraints,”withT.Feyzioglu,December1992.TESTIMONIES:“ReachingAmerica’sPotential:DeliveringGrowthandOpportunityforallAmericans,”HouseWaysandMeansCommittee.February2,2016.(link)“OntheDynamicScoringofFiscalPolicy,”JointEconomicCommittee.July28,2015.(link)“TheWayforwardfromGovernmentShutdownandDebtCeilingConfrontation,”JointEconomicCommittee.October11,2013.(link)“LessonsfromReagan:HowTaxReformcanBoostEconomicGrowth,”JointEconomicCommittee.July31,2013.(link)“Long-termUnemployment:ConsequencesandSolutions,”JointEconomicCommittee.April24,2013.(link)“TestimonyontheFiscalCliff,”JointEconomicCommittee.December6,2012.(link)“HowtheTaxationofCapitalAffectsGrowthandEmployment,”JointEconomicCommittee.April17,2012.(link)“PolicyPrescriptionsfortheEconomy,”SenateCommitteeontheBudget.September15,2011.(link)“SpendLess,OweLess,GrowtheEconomy,”JointEconomicCommittee.June21,2011.(link)“TestimonyontheImportanceofComprehensiveTaxReform,”HouseCommitteeonWaysandMeans.January20,2011.(link)“TestimonyontheNationalManufacturingStrategyAct,”HouseCommitteeonEnergyandCommerce.July14,2010.(link)“TheRoadtoEconomicRecovery,”JointEconomicCommittee.February26,2010.(link)“ProspectsforEmploymentGrowth:IsAdditionalStimulusNeeded?”HouseCommitteeonFinancialServices.February23,2010.(link)“TheImpactoftheRecoveryActonEconomicGrowth,”JointEconomicCommittee.October29,2009.(link)“TheEconomicOutlookandBudgetChallenges,”HouseCommitteeontheBudget.February27,2009.(link)

“TheStealthTaxthat’sNoLongeraWealthTax.”SenateCommitteeonFinance.June27,2007.(link)“BlowingtheCoveronStealthTax”SenateCommitteeonFinanceSubcommitteeonTaxationandIRSOversight.May23,2005.(link)“CapitalCostRecoveryandFundamentalTaxReform,”President’sAdvisoryPanelonFederalTaxReform.April18,2005.(link)“PharmaceuticalPriceControlsinOECDCountries,”DepartmentofCommerce,InternationalTradeAdministration.August3,2004.(link)“TheFASBStockOptionsProposal,ItsEffectontheU.S.EconomyandJobs,”HouseCommitteeonFinancialServices.April21,2004.(link)“TheFutureofFiscalPolicyintheUnitedStates,”HouseFinancialServicesCommittee.April30,2003.(link)“EvaluationofProposalsforEconomicGrowthandJobCreation:IncentivesforInvestment,”SenateFinanceCommittee.February12,2003.(link)“BudgetEnforcementAct,”HouseBudgetCommittee.June27,2002.“StatementonDynamicScoring,”HouseBudgetCommittee.May2,2002.(link)“SomeIntuitionConcerningtheBenefitsofConsumptionTaxation,”HouseWaysandMeansCommittee.May2,2002.(link)–hyperlinkbutnotestimony“EconomicStimulus,”SenateBudgetCommittee.October25,2001.(link)“TheRoleofTaxIncentivesinEnergyPolicy,”SenateFinanceCommittee.July10,2001.(link)“BudgetEnforcementAct,”SenateBudgetCommittee.June27,2001.(link)“BudgetOutlookandTaxPolicy,”SenateBudgetCommittee.February13,2001.(link)“President’sTaxReliefProposals,”HouseWaysandMeansCommittee.February13,2001.