We study the effect of tax policy on stock market returns in the United States, Germany, and the United Kingdom using … GARCH models and a unique daily dataset of legislative tax changes during the period 1 December 1978 to 31 January 2018. We … find that days of discretionary tax legislation during all stages of the process often matter for returns, both in terms of …

We estimate the elasticities of the most important tax categories using a new quarterly database of discretionary tax … the UK, long-term tax-to-base elasticities are generally higher than short-term elasticities, whereas results for the US … close to unity. (iii) German and UK tax-to-output elasticities in the short term are lower than long-term elasticities, with …

of tax changes on consumption and savings; and 4) the effect of tax changes on labour market activities. …

unresponsive to taxation. Second, we look at self-reported labour supply adjustments following a recently enacted payroll tax …, as well as a substitution, effect of the tax change. Our conclusion is that effects of taxes on labour supply in Germany …

Using a narrative account of quarterly discretionary changes in tax liabilities from 1974Q4 to 2018Q2 in a VAR setting …, we study whether legislative tax changes affect the trade balance in the United States, Germany, and the United Kingdom …. As legislative tax changes we consider (i) all changes, (ii) personal income tax changes, (iii) business tax changes, (iv …