Adjusting One's Standard of Living: Two-Period Models

In the summer of 1967, Jim and I began collaborating on optimal taxation. Our paper was essentially finished that summer, although it was a number of years before it appeared in print. Since then, we have collaborated continuously and have published eight more papers plus one forthcoming. At one point, we contemplated writing a graduate text. We got as far as a table of contents and an allocation of who would write the first version of each chapter – for our working style, after initial results, was to alternate writing complete drafts. But, neither of us was really interested in taking on a task of the magnitude needed to write a book we would be satisfied with, and the project had a mercifully quick ending.