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The Output Effect of Fiscal Consolidations

Alesina, Alberto F. - 2012

The present paper argues that the correct experiment to evaluate the effects of a fiscal adjustment is the simulation of fiscal plans rather than of individual fiscal shocks. The simulation of the fiscal plans adopted by 16 OECD countries over a 30-year period supports the hypothesis that the...

Persistent link: https://www.econbiz.de/10013101511

Investment in Energy Infrastructure and the Tax Code

Metcalf, Gilbert E. - 2014

Federal tax policy provides a broad array of incentives for energy investment. I review those policies and construct estimates of marginal effective tax rates for different energy capital investments as of 2007. Effective tax rates vary widely across investment classes. I then consider...

Persistent link: https://www.econbiz.de/10013070671

Tax Policies for Low-Carbon Technologies

Metcalf, Gilbert E. - 2010

key policy goals with subsidies as opposed to using taxes to raise the price of pollution-related activities. In …

Persistent link: https://www.econbiz.de/10013152559

How Large are the Effects of Tax Changes?

Favero, Carlo A. - 2009

We use the time series of shifts in U.S. Federal tax liabilities constructed by Romer and Romer to estimate tax multipliers. Differently from the single-equation approach adopted by Romer and Romer, our estimation strategy (a Var that includes output, government spending and revenues, inflation...

Persistent link: https://www.econbiz.de/10013156671

Federal Taxation and the Supply of State Debt

Metcalf, Gilbert E. - 2007

This paper presents a model of debt finance at the sub-national level from which municipal bond supply equations are derived. Federal tax considerations are shown to be important determinants of the price entering the bond supply equation. Using data on 40 state governments over a seven year...

Persistent link: https://www.econbiz.de/10012777116

Tax Policy, Asset Prices, and Growth : a General Equilibrium Analysis

Goulder, Lawrence H. - 2007

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/10012777380

Federal Tax Policy Towards Energy

Metcalf, Gilbert E. - 2007

On Aug. 8, 2005, President Bush signed the Energy Policy Act of 2005 (PL 109-58). This was the first major piece of energy legislation enacted since 1992 following five years of Congressional efforts to pass energy legislation. Among other things, the law contains tax incentives worth over $14...

Persistent link: https://www.econbiz.de/10012778276

What Do We Know About the Effects of Austerity?

Alesina, Alberto F. - 2018

This paper summarizes the results of a large recent literature on multi year fiscal plans for deficit reduction (austerity). The key results are that deficit reduction policies based upon spending cuts are much less costly in terms of short run output losses than tax based adjustments. On...

Persistent link: https://www.econbiz.de/10012929010

The Usual Excess-Burden Approximation Usually Doesn'T Come Close

Goulder, Lawrence H.; Williams, Roberton C. - 2021

from taxes on intermediate inputs or consumer goods, and derives a practical alternative to this formula. We use an … analytically tractable general equilibrium model to reveal how interactions with pre-existing taxes in other markets critically … affect the excess burden of new taxes on intermediate inputs or consumer goods. The usual excess-burden formula ignores these …

Persistent link: https://www.econbiz.de/10013238701

Savings Promotion, Investment Promotion, and International Competitiveness

Goulder, Lawrence H.; Eichengreen, Barry - 2021

In an open economy, savings- and investment-promoting policies may have very different effects on the capital account and on the viability of export-oriented and import-competing industries. The nature of the effects is often ambiguous in analytical models. This paper employs a simulation model...

Persistent link: https://www.econbiz.de/10013240332