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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

Fiscal Expansions and Fiscal Adjustments in OECD Countries

Alesina, Alberto - 1995

This paper considers budget expansions and adjustments in OECD countries in the last three decades. Our main results are: i) on average fiscal expansions are the results of increases in expenditures, particularly of transfer programs, while contractions are typically due to tax increases; ii)...

Persistent link: https://www.econbiz.de/10012473663

Inputs to Tax Policymaking : The Supply Side, the Deficit, and the Level Playing Field

Fullerton, Don - 1990

Although supply side theory may have been obvious to economists, it instigated a major change in the nature of tax policymaking through marginal rate cuts in both the Economic Recovery Tax Act of 1981 and the Tax Reform Act of 1986. Also, the 1981 bill was the culmination of an era in which...

Persistent link: https://www.econbiz.de/10012475519

Distortionary Taxes and the Provision of Public Goods

Ballard, Charles L. - 1990

When comparing marginal costs and benefits of a public project, most economists think in terms of adding together the marginal costs of production plus marginal costs of additional distortionary taxation. This paper clarifies how the "revenue effect" offsets the "distortionary effect." For...

Persistent link: https://www.econbiz.de/10012475520

Tax Policy Toward Art Museums

Fullerton, Don - 1990

Although art museums do not pay any substantial taxes, they are greatly affected by various U.S. tax rules. The …

Persistent link: https://www.econbiz.de/10012475654

Economic Efficiency in Recent Tax Reform History : Policy Reversals or Consistent Improvements?

Fullerton, Don - 1988

added significantly to business taxes. Was there any unifying theme to these tax changes, or do they represent frequent … the net effects on efficiency of each of these changes in capital income taxation. Under the new view that dividend taxes … generate improvements in efficiency. Under the old view that dividend taxes are important, however, these changes all increase …

Persistent link: https://www.econbiz.de/10012476477

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