Narrow search
Showing 1 - 4 of 4
Cover Image
The Effects of Tax Shocks on Output: Not So Large, But Not Small Either
Perotti, Roberto - C.E.P.R. Discussion Papers - 2011
theoretical grounds the discretionary component of taxation should be allowed to have different effects on output than the …
Persistent link: https://www.econbiz.de/10008854466
Cover Image
Fiscal Policy and Learning
Evans, George W.; Honkapohja, Seppo; Mitra, Kaushik - C.E.P.R. Discussion Papers - 2012
What is the impact of surprise and anticipated policy changes when agents form expectations using adaptive learning rather than rational expectations? We examine this issue using the standard stochastic real business cycle model with lump-sum taxes. Agents combine knowledge about future policy...
Persistent link: https://www.econbiz.de/10011083586
Cover Image
Policy Change and Learning in the RBC Model
Evans, George W.; Honkapohja, Seppo; Mitra, Kaushik - C.E.P.R. Discussion Papers - 2012
What is the impact of surprise and anticipated policy changes when agents form expectations using adaptive learning rather than rational expectations? We examine this issue using the standard stochastic real business cycle model with lump-sum taxes. Agents combine knowledge about future policy...
Persistent link: https://www.econbiz.de/10011084557
Cover Image
Threat of a Capital Levy, Expected Devaluation and Interest Rates in Inter-War France
Sicsic, Pierre - C.E.P.R. Discussion Papers - 1998
gold standard during the 1930s. We do this by separating expectations of taxation and of devaluation that are implicitly … expectations of a capital levy or other taxation devices; third that hyperinflation was not expected, even at the moment of maximum …
Persistent link: https://www.econbiz.de/10005662302