An estimated fiscal Taylor Rule for the postwar United States

This paper estimates a multi-instrument fiscal Taylor Rule for the United States. Taxes and purchases both respond strongly to deficits, while transfers do not. Taxes are procyclical; purchases are acyclical; and transfers are countercyclical. These estimates appear stable over time.

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Year of publication:	2012
Authors:	Reicher, Christopher Phillip
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 114.2012, 3, p. 319-321
Publisher:	Elsevier
Subject:	Spending reversals \| Fiscal Taylor Rule \| Deficits \| Taxes \| Government spending \| Transfer payments

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Type of publication:	Article
Classification:	E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization ; H20 - Taxation, Subsidies, and Revenue. General ; H62 - Deficit; Surplus
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010572224