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 …

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

percentage point of GDP increase in taxes leads to a decline in GDP by about 1.5 percentage points after 3 years. I also create … between different types of taxes (personal, corporate, indirect, and social security) and their subcomponents …

structural vector autoregressions show that lower taxes and higher government purchases can boost output, it is difficult to …

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

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 …

By preemptive austerity, we mean a policy that increases taxes to deter potential rollover crises. The policy is so … eliminates the danger. Mechanically, high taxes make the safe zone in the model -- the set of sovereign debt levels for which the … reduce the level of debt to a point where, asymptotically, high taxes are no longer necessary …