mechanism depend critically on the precise composition of taxes. Specifically, the international effects of budget deficits of a … given size differ sharply according to the types of taxes used to generate the deficit. We show that in determining the … effects of taxes it is useful to divide the various distortionary taxes into two groups: those that stimulate current external …

-distortionary taxes and for various patterns of government spending, it is shown that the quantitative and qualitative effects of fiscal … and tax structure, including the timing of taxes and borrowing and the types of taxes used to finance the budget, on the …

levels by increasing taxes, so either an adjustment to fiscal spending or monetary policy must occur to stabilize debt. We …

--government spending and changes in tax policy--and map the news processes into standard DSGE models. We identify news concerning taxes …

econometrician's information sets in estimated VARs. Economically meaningful shocks to taxes, therefore, cannot be extracted from …

combination of a drop in total factor productivity (TFP) during 1990-92 and of increases in taxes on labor and consumption and …

detailed specification of public and private sector behavior focusing on the roles played by taxes on income, consumption, and … analytically that the effects of such changes in the structure of taxes depend critically on international differences in saving … depend critically on whether the government manages its deficit through alterations in income or consumption (VAT) taxes …

rate for all transactions. We show that the dual exchange rate policies can be usefully cast as distortionary taxes on …

accounted for by the evolution of taxes in an otherwise standard neoclassical growth model. Although taxes play a crucial role …, we cannot argue that taxes drive all of the movements in hours worked. In particular, the model underpredicts the large …