We study state-dependent effects of narratively identified tax shocks in Germany and the UK over the period 1974Q1 …-2018Q4 using local projections. In addition, we distinguish between aggregated and disaggregated tax types (direct and … indirect taxes) as well as look for possible asymmetries between tax hikes and tax cuts. We find a number of differences across …

I study the spill-over effects of legislated discretionary tax changes in the United States, Germany, and the United … spillovers from US tax legislation to have the smallest effects on Eurozone countries' real GDP and UK tax changes to exert the … largest effect. There is substantial heterogeneity in both the sign and size of spillovers after US and German aggregated tax …

We study the announcement effect of legislated tax changes on GDP in the US, Germany, and the UK. Using, as the shock … of interest, narratively identified information (Romer & Romer, 2009) about future tax changes at the quarter of their …

This paper studies the short-run macroeconomic effects of legislated tax changes in Germany using a vector … autoregression (VAR) approach. Identification of the tax shock follows the narrative approach recently proposed by Romer and Romer … monetary policy reaction following announcement of the tax policy. In response to a 1 percent increase in the tax-to-GDP ratio …

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 …