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Guided by a simple theory of task assignment and time allocation, we investigate the long run response to national … differences in tax rates on labor income, payrolls and consumption. The theory implies that higher tax rates reduce work time in …
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What is the long-run relationship between monetary and fiscal policies? This paper provides an answer by examining a large set of data covering major economies during the past 115 years. The evidence suggests the existence of a close interaction between the monetary regime, that is the behaviour...
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