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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, Asset Prices, and Growth : A General Equilibrium Analysis

Goulder, Lawrence H. - 1987

This paper presents a multisector general equilibrium model that is capable of providing integrated assessments of the economy's short- and long- run responses to tax policy changes. The model contains an explicit treatment of firm's investment decisions according to which producers exhibit...

Persistent link: https://www.econbiz.de/10012476941

Tax Policy and International Competitiveness

Summers, Lawrence H. - 1986

This paper examines the interactions between tax policy, international capitol mobility, and international competitiveness. It demonstrates that tax policies which stimulate national investment without affecting national savings must inevitably lead to deterioration in a country's trade balance...

Persistent link: https://www.econbiz.de/10012477064

Are Tax Cuts Really Expansionary?

Mankiw, N. Gregory - 1984

In this paper, we re-examine the standard analysis of the short-run effect of a personal tax cut. If consumer spending generates more money demand than other components of GNP, then tax cuts may, by increasing the demand for money, depress aggregate demand. We examine a variety of evidence and...

Persistent link: https://www.econbiz.de/10012477645

Tax Policy, the Rate of Return, and Savings

Summers, Lawrence H. - 1982

The theoretical and empirical results in this paper make a strong prima facie case for the proposition that increases in the after tax rate of return caused by tax policy are likely to bring forth significant increases in saving. Theoretical analysis using a variety of standard models tends to...

Persistent link: https://www.econbiz.de/10012478110

Tax Policy and Corporate Investment

Summers, Lawrence H. - 1980

, however, very long. For example, it is estimated that the elimination of capital gains taxes would raise the capital stock by …

Persistent link: https://www.econbiz.de/10012478520

Inflation, Taxation, and Corporate Investment : A q-Theory Approach

Summers, Lawrence H. - 1980

This paper presents an analysis of the effects of tax policy on capital accumulation and valuation based on James Tobin's q theory of investment. As Tobin has explained, aggregate investment can be expected to depend in a stable way on q, the ratio of the stock market valuation of existing...

Persistent link: https://www.econbiz.de/10012478521

Tax Policy in a Life Cycle Model

Summers, Lawrence H. - 1978

This study departs from earlier analyses of the effects of taxes on capital income in several respects. Probably the …

Persistent link: https://www.econbiz.de/10012478848

The Effects of Tax Shocks on Output : Not So Large, But Not Small Either

Perotti, Roberto - 2011

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 …

Persistent link: https://www.econbiz.de/10012461871

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