Showing 1 - 3 of 3
Persistent link: https://www.econbiz.de/10005241604
This paper estimates the dynamic effects of changes in taxes in the United States. We distinguish between changes in personal and corporate income taxes and develop a new narrative account of federal tax liability changes in these two tax components. We develop an estimator which uses...
Persistent link: https://www.econbiz.de/10010815715
We show that the financial accelerator may be very large in a liquidity trap. We study a sticky price model with real estate and a financial friction specified as a collateral constraint. Expectations can lead the economy to a self-fulfilling liquidity trap equilibrium where the lower bound on...
Persistent link: https://www.econbiz.de/10009132613