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State-Dependent Local Projections : Understanding Impulse Response Heterogeneity
Cloyne, James; Jordà, Òscar; Taylor, Alan M. - National Bureau of Economic Research - 2023
An impulse response is the dynamic average effect of an intervention across horizons. We use the well-known Kitagawa-Blinder-Oaxaca decomposition to explore a response's heterogeneity over time and over states of the economy. This can be implemented with a simple extension to the usual local...
Persistent link: https://www.econbiz.de/10014226168
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Taxation and Economic Growth
Engen, Eric M. - 1996
Tax reforms are sometimes touted to have strong macroeconomic growth effects. We consider the impact of a major tax reform on the long-term growth rates of the U.S. economy using three approaches. The first approach is to examine the historical record of the U.S. economy to evaluate whether tax...
Persistent link: https://www.econbiz.de/10012473002
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Tax Policy and Consumer Spending : Evidence from Japanese Fiscal Experiments
Watanabe, Katsunori - 1999
This paper studies the extent to which the impact of tax policy on consumer spending differs between temporary and permanent, as well as anticipated and unanticipated tax changes. To discriminate between them, we use institutional information such as legal distinction between temporary and...
Persistent link: https://www.econbiz.de/10012471538
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Distributional Tax Analysis in Theory and Practice : Harberger Meets Diamond-Mirrlees
Saez, Emmanuel; Zucman, Gabriel - National Bureau of Economic Research - 2023
classical tax incidence analysis to optimal tax theory. To study the distribution of current taxes, labor taxes are assigned to …
Persistent link: https://www.econbiz.de/10014437043
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Taxing Top Wealth : Migration Responses and their Aggregate Economic Implications
Jakobsen, Katrine; Kleven, Henrik Jacobsen; Kolsrud, Jonas - National Bureau of Economic Research - 2024
Using administrative data on wealth, firm ownership structure, and migration in Sweden and Denmark, we document international migration patterns among the very wealthy, their impact on the economy, and how they respond to wealth taxation. We show that more than 20% of taxpayers liable to pay...
Persistent link: https://www.econbiz.de/10014486244
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Sovereign Default and Tax-smoothing in the Shadow of Corruption and Institutional Weakness
Azzimonti, Marina; Mitra, Nirvana - National Bureau of Economic Research - 2023
Emerging countries exhibit volatile fiscal policies and frequent sovereign debt crises, that significantly diminish the well-being of their citizens. International advisors typically suggest developed-world solutions as a remedy. We argue that the root of the problem lies in the institutional...
Persistent link: https://www.econbiz.de/10014447264
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Wayfair : A Step Towards the Destination, But Sales Tax Competition Remains
Bruce, Donald J.; Fox, William F.; Shute, Alannah M. - National Bureau of Economic Research - 2023
The U.S. Supreme Court decision in the landmark 2018 Wayfair case greatly improved state governments' ability to enforce collection of sales taxes on a destination basis. This has reduced state tax competition with an essentially-untaxed internet, but has brought traditional cross-border...
Persistent link: https://www.econbiz.de/10014247994
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Corporate Political Spending and State Tax Policy : Evidence from Citizens United
Slattery, Cailin R.; Tazhitdinova, Alisa; Robinson, Sarah - National Bureau of Economic Research - 2022
To what extent is U.S. state tax policy affected by corporate political contributions? The 2010 Supreme Court Citizens United v. Federal Election Commission ruling provides an exogenous shock to corporate campaign spending, allowing corporations to spend on elections in 23 states which...
Persistent link: https://www.econbiz.de/10013362006
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The Effect of Health on Economic Growth : Theory and Evidence
Bloom, David E. - 2001
Macroeconomists acknowledge the contribution of human capital to economic growth, but their empirical studies define human capital solely in terms of schooling. In this paper, we extend production function models of economic growth to account for two additional variables that microeconomists...
Persistent link: https://www.econbiz.de/10012470129
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Growth Economics and Reality
Brock, William A. - 2000
the perspective of economic theory as well as from the perspective of the historical experiences of the countries under … model specification. Model uncertainty consists of two types: theory uncertainty, which relates to which growth determinants … draws from the same statistical model. We propose ways to account for both theory and heterogeneity uncertainty. Finally …
Persistent link: https://www.econbiz.de/10012470690