based upon spending cuts are much less costly, in terms of output losses, than tax-based ones. Fiscal adjustments have …

fiscal adjustments in OECD countries from 1970 to 2007. Fiscal stimuli based upon tax cuts are more likely to increase growth … than those based upon spending increases. As for fiscal adjustments, those based upon spending cuts and no tax increases … are more likely to reduce deficits and debt over GDP ratios than those based upon tax increases. In addition, adjustments …

, while contractions are typically due to tax increases; ii) however successful (i.e. long lasting), a minority of the total …

This paper deals with the international effects of taxation. Tax policies have profound effects on the temporal … understanding of international effects of domestic tax policies and of international tax harmonization. The analytical framework … international borrowing. We present stylized facts on the average consumption and income tax rates for the seven major industrial …