The Policy Simulation Library DC meeting: Cost-of-Capital-Calculator model demo

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Event Summary

On Monday, the Open Source Policy Center at AEI hosted the Policy Simulation Library (PSL) April meeting. PSL is an open-source software library for public policy decision-making and organizes monthly meetings for open-source policy modelers to present their projects to users and the general public.

The event began with updates from Kevin Perese of the Congressional Budget Office (CBO) and Weifeng Zhong of the Mercatus Center. Mr. Perese discussed CBO’s health insurance simulation model, and Dr. Zhong offered updates on the open-source Policy Change Index–China, a model to predict Chinese public policy.

Then, Jason DeBacker of the University of South Carolina presented his work on the Cost-of-Capital-Calculator (CCC), an open-source model for evaluating the effect of US federal taxes on businesses’ investment incentives. Dr. DeBacker began with a brief overview of the uses of and methodology behind the model and then demonstrated how to install the CCC Python package and run the code from one’s computer. The presentation was followed by a lively Q&A on a range of topics, including the ability to test parameter uncertainty and the model’s underlying data.

— Peter Metz

Event Description

Join us for the Policy Simulation Library (PSL) DC meeting hosted by AEI’s Open Source Policy Center to learn how computational simulation models are used to inform public policy decision-making. The meeting will begin with updates from PSL contributors and users about their open-source projects.

Then, Jason DeBacker (University of South Carolina) will present and demo the open-source Cost-of-Capital-Calculator (CCC). CCC is a model for evaluating the effect of US federal taxes on businesses’ investment incentives by calculating the marginal effective tax rates on new investments. CCC is a member of the PSL Catalog, an open-source software library of public policy models.

Everyone is welcome to the PSL DC meeting regardless of technical knowledge or experience, although please expect modeling code and results to be presented.

To learn more about PSL, visit www.PSLmodels.org and follow us on Twitter @PSLmodels.

 


Agenda

12:00 PM
Registration and lunch

12:15 PM
Introduction:
Anderson Frailey, AEI

12:20 PM
Updates from open-source projects

12:30 PM
Presentation:
Jason DeBacker, University of South Carolina

1:15 PM
Social

1:30 PM
Adjournment


Event Contact Information

For more information, please contact Anderson Frailey at [email protected], 202.419.5214.


Media Contact Information

For media inquiries or to register a camera crew, please contact [email protected], 202.862.5829


Speaker Biographies

Jason DeBacker is an assistant professor in the Department of Economics at the Darla Moore School of Business at the University of South Carolina. His research interests lie in the areas of public finance and macroeconomics. He has published papers on these topics in the Journal of Financial Economics, the Journal of Law and Economics, the Journal of Public Economics, the Brookings Papers on Economic Activity, and other outlets. From 2009 to 2012, he worked as a financial economist in the Office of Tax Analysis at the US Department of the Treasury. Dr. DeBacker earned a Ph.D. in economics from the University of Texas at Austin.

Anderson Frailey is a research associate at the Open Source Policy Center at AEI. He has made substantial technical contributions to economic modeling projects including Tax Data and Tax-Calculator. Mr. Frailey also is a consultant for the World Bank, assisting India’s Ministry of Finance in developing a microsimulation tax model. His areas of research include tax policy and universal basic income. Mr. Frailey received a bachelor’s degree in economics from the University of Texas at Austin.

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