William Gentry

Associate Professor of Economics

Office: Fernald 3
Webpage: http://www.williams.edu/Economics/gentry/
E-mail: William.M.Gentry@williams.edu
Tel: (413) 597-4257
Fax: (413)-597-4045
Department of Economics
Williams College
Fernald House
Williamstown, MA 01267

Education

Princeton University, Ph.D, 1991
Princeton University, M.A., 1991
Massachusetts Institute of Technology,S.B., Economics, 1986

Fields of Specialization

Public finance
economic effects of taxation
corporate finance

Research

Publications

“Entrepreneurship and Household Saving,” with R. Glenn Hubbard, Advances in Economic Analysis & Policy, Berkeley Electronic Press, forthcoming. Previous version: National Bureau of Economic Research, Working Paper No. 7894, September 2002.

“The Effects of Progressive Income Taxation on Job Turnover,” with R. Glenn Hubbard, Journal of Public Economics, forthcoming.

“Frictions and Tax-Motivated Hedging: An Empirical Exploration of Publicly Traded Exchangeable Securities,” with David M. Schizer, National Tax Journal, March 2003, vol. 56, no. 1 (Part 2), pp. 167-195.

“Dividend Taxes and Share Prices: Evidence from Real Estate Investment Trusts,” with Deen Kemsley and Christopher J. Mayer, Journal of Finance, February 2003, vol. 58, no. 1, pp. 261-282.

“Debt, Investment, and Endowment Accumulation: The Case of Not-for-Profit Hospitals,” Journal of Health Economics, September 2002, vol. 21, no. 5, pp. 845-872.

“Tax Policy and Entrepreneurial Entry,” with R. Glenn Hubbard, American Economic Review, May 2000, vol. 90, pp. 283-287.

“The Tax Benefits of Not-for-Profit Hospitals,” with John R. Penrod, in David Cutler, ed., The Changing Hospital Industry: Comparing Not-for-Profit and For-Profit Institutions, University of Chicago Press, 2000, pp. 285-324.

“Fundamental Tax Reform and Corporate Financial Policy,” with R. Glenn Hubbard, in James M. Poterba, ed., Tax Policy and the Economy, volume 12, 1998, pp. 191-227.

“Organizational Form and Insurance Company Performance: Stocks versus Mutuals,” with Patricia Born, W. Kip Viscusi, and Richard Zeckhauser, in David F. Bradford, ed., Property Casualty Insurance, University of Chicago Press, 1998, pp. 167-192.

“Distributional Implications of Introducing a Broad-Based Consumption Tax,” with R. Glenn Hubbard, in James M. Poterba, ed., Tax Policy and the Economy, volume 11, 1997, pp. 1-47.

“The Distributional Effects of the Tax Treatment of Child Care Expenses,” with Alison P. Hagy, in Martin S. Feldstein and James M. Poterba, eds., Empirical Foundations of Household Taxation, University of Chicago Press, 1996, pp. 99-128.

“Tax Arbitrage, the Choice of Tax Base and the Prospects for Tax Reform,” with Rosanne Altshuler, National Tax Association-Tax Institute of America, Proceedings of the Eighty-Eighth Annual Conference, 1995, pp. 236-241.

“Capital Gains Taxes and Realizations: Evidence from Interstate Comparisons,” with W. T. Bogart, Review of Economics and Statistics, May 1995, vol. 77, pp. 267-282.

“Annuity Markets and Retirement Saving,” National Tax Association-Tax Institute of America, Proceedings of the Eighty-Seventh Annual Conference, 1994, pp. 178-183.

“State Tax Structure and Multiple Policy Objectives,” with Helen F. Ladd, National Tax Journal, December 1994, vol. 47, pp. 747-772.

“Residential Energy Demand and the Taxation of Housing,” The Energy Journal, May 1994, vol. 15, no. 2, pp. 89-105.

“Taxes, Financial Decisions and Organizational Form: Evidence from Publicly Traded Partnerships,” Journal of Public Economics, February 1994, vol. 53, pp. 223-244.

“Exchange-Rate Exposure and Industry Characteristics: Evidence from Canada, Japan and the U.S.,” with Gordon Bodnar, Journal of International Money and Finance, February 1993, vol. 12, pp. 29-45.

“Taxes and Organizational Form: The Rise and Fall of Publicly Traded Partnerships,” National Tax Association-Tax Institute of America, Proceedings of the Eighty-Fourth Annual Conference, 1991, pp. 30-34.

“Capital Taxation and Publicly Traded Partnerships: A Summary,” National Tax Association-Tax Institute of America, Proceedings of the Eighty-Fourth Annual Conference, 1991, pp. 101-107.

“Do State Revenue Forecasters Utilize Available Information?” National Tax Journal, December 1989, vol. 42, pp. 429-440.

“Testing the Rationality of State Revenue Forecasts,” with Daniel Feenberg, David Gilroy, and Harvey Rosen, Review of Economics and Statistics, May 1989, vol. 71, no. 2, pp. 300-308.

Working Papers

“The Character and Determinants of Corporate Capital Gains,” with Mihir A. Desai, August 2003.

“What Can We Learn about the Sensitivity of Investment to Stock Prices with a Better Measure of Tobin’s q?” with Christopher J. Mayer, July 2003.

“The Effects of Share Prices Relative to 'Fundamental' Value on Stock Issuances and Repurchases,” with Christopher J. Mayer, April 2003.

“Deviations between Stock Price and Fundamental Value for Real Estate Investment Trusts,” with Charles M. Jones and Christopher J. Mayer, March 2003.

“Tax Policy and Entry into Entrepreneurship,” with R. Glenn Hubbard, November 2002.

“Taxes and Wage Growth,” with R. Glenn Hubbard, January 2002.

“Taxes and the Increased Investment in Annuities,” with Joseph Milano, April 1998, National Bureau of Economic Research, Working Paper No. 6525; revised: December 1998.

“An Illustration of Taxes and Corporate Reorganizations: Rockwell Sells Its Defense Units to Boeing,” November 1996; revised November 1999.

Other

Selected Work Experience

Taught in the Economics Department at Duke University and the Graduate School of Business at Columbia University.

Faculty Research Fellow, National Bureau of Economic Research