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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

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

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

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

Tax Policy, Housing Prices, and Housing Investment

Goulder, Lawrence H. - 2015

This paper employs a general equilibrium model to assess the effects of major components of the Tax Reform Act of 1986 on the performance of housing and other industries. The model considers both short-term and long-term effects on housing demands, house values, and investment in housing. Model...

Persistent link: https://www.econbiz.de/10012750793

College Cost and Time to Complete a Degree : Evidence from Tuition Discontinuities

Garibaldi, Pietro - 2010

Many students enrolled in academic programs around the world take longer to obtain a degree than the normal completion time while college tuition is typically constant during the years of enrollment. In particular, it does not increase when a student remains in a program beyond the normal...

Persistent link: https://www.econbiz.de/10012760426

Retarding Short-Term Capital Inflows Through withholding Tax

Zee, Howell H. - International Monetary Fund (IMF) - 2000

This paper proposes a price-based measure to mitigate the destabilizing impact of the volatility of global capital movements on the domestic economy of a country pursuing sound economic policies. The measure is a withholding tax on all private capital inflows, with a credit and refund provision...

Persistent link: https://www.econbiz.de/10005263778

A Superior Hybrid Cash-Flow Taxon Corporations

Zee, Howell H. - International Monetary Fund (IMF) - 2006

This paper proposes a new hybrid cash-flow tax on corporations that, on one hand, taxes only excess corporate profits …

Persistent link: https://www.econbiz.de/10005826259