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An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output

Blanchard, Olivier - 1999

This paper characterizes the dynamic effects of shocks in government spending and taxes on economic activity in the … the automatic response of taxes and spending to activity, and, by implication, to infer fiscal shocks. The results … negative effect. The multipliers for both spending and tax shocks are typically small. Turning to the effects of taxes and …

Persistent link: https://www.econbiz.de/10012471521

Tax Policy Design with Low Interest Rates

Auerbach, Alan J.; Gale, William G. - National Bureau of Economic Research - 2021

and income taxes; (b) make wealth taxes less efficient relative to capital income taxes, at given rates of tax; (c) reduce …

Persistent link: https://www.econbiz.de/10012660030

Real Estate and the Tax Reform Act of 1986

Hendershott, Patric H. - 1986

In contrast to the conventional wisdom, real estate activity in the aggregate is not disfavored by the 1986 Tax Act. Within the broad aggregate, however, widely different impacts are to be expected. Regular rental and commercial activity will be slightly disfavored, while historic and old...

Persistent link: https://www.econbiz.de/10012476971

Tax Policy and Stock Prices

Downs, Thomas - 1986

Windfall profits and losses accrue to investors only when expected after-tax returns or discount rates change, and major tax policy shifts are likely to alter these variables. This study introduces a cashflow valuation model for estimating the windfalls to owners of U.S. nonfinancial...

Persistent link: https://www.econbiz.de/10012476975

The Administration Tax Reform Proposal and Housing

Hendershott, Patric H. - 1985

loss of deductibility of property taxes -- on owner-occupied housing in the aggregate. However, this housing will generally …

Persistent link: https://www.econbiz.de/10012477339

Tax Reform and Financial Markets

Hendershott, Patric H. - 1985

incentives and marginal tax rates would tend to lower before-tax interest rates, and lower taxes on existing corporate capital …

Persistent link: https://www.econbiz.de/10012477373

Trading and the Tax Shelter Value of Depreciable Real Estate

Hendershott, Patric H. - 1984

maximizing the property's depreciation tax shelter net of all capital gain taxes and transaction costs.This paper develops a …

Persistent link: https://www.econbiz.de/10012477830

The Impacts on Capital Allocation of Some Aspects of the Economic Recovery Tax Act of 1981

Hendershott, Patric H. - 1981

aggregate saving, real pretax interest rates rise by nearly two percentage points. Corporate profit taxes decline by 60 percent …

Persistent link: https://www.econbiz.de/10012478286

National Savings, Economic Welfare, and the Structure of Taxation

Auerbach, Alan J. - 1981

This paper develops a perfect foresight general equilibrium simulation model of life cycle savings that may be used to investigate the potential impact of a wide range of government policies on national savings and economic welfare. The model can provide quantitative answers to a number of...

Persistent link: https://www.econbiz.de/10012478386

Tax Equivalences and their Implications

Auerbach, Alan J. - 2018

In economic analyses of the effects of tax policies, one commonly encounters discussions of the equivalence of apparently different policies, where equivalence is defined as the policies having the same impact on fundamental economic outcomes. These related tax policies may differ in many...

Persistent link: https://www.econbiz.de/10012480810