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After the Death of Inflation: Will Fiscal Drag Survive?

Heinemann, Friedrich - 2000

back theoretical considerations on inflation?s impact on different kinds of taxes: This impact tends to be positive for …Declining inflation rates might have negative consequences for tax revenues. Phenomena like the inflationary bracket … fiscal drag for OECD countries since 1965. Some considerations on the role of money illusion and indexation in this context …

Persistent link: https://www.econbiz.de/10010297682

A set of estimated fiscal rules for a cross section of countries: Stabilization and consolidation through which instruments?

Reicher, Christopher Phillip - 2013

This paper provides a set of detailed estimated fiscal reaction functions for a panel of twenty industrialized countries, and it discusses commonalities and differences with regard to systematic fiscal policies across countries. In general, the countries in the panel adjust tax revenues strongly...

Persistent link: https://www.econbiz.de/10010319101

An estimated fiscal Taylor rule for the postwar United States

Reicher, Christopher Phillip - 2011

using a multivariate Fiscal Taylor Rule. Adjustments to taxes and purchases both account for a large portion of the fiscal … response to debt, while authorities seem reluctant to adjust transfers. As expected, taxes are highly procyclical; purchases …

Persistent link: https://www.econbiz.de/10010274430

Public finance, aid, and post-conflict recovery

Boyce, James K. - 2007

In the wake of violent conflict, a key element of building a durable peace is building a state with the ability to collect and manage public resources. To implement peace accords and provide public services, the government must be able to collect revenue, allocate resources, and manage...

Persistent link: https://www.econbiz.de/10010287862

A scientific note on the Italian Mini BOTs and the proposal of the CCCFs

Saccal, Alessandro - 2024

This note shows that the Italian Mini BOTs proposed in 2019 bore the potential neither to become Italian legal tender nor to practically increase Italian government debt, but to practically cause a mere reduction in taxation and thence in government spending or transfers. Since the Eurozone...

Persistent link: https://www.econbiz.de/10015165683

The extent and composition of automatic stabilization in EU countries

Coady, David P.; De Poli, Silvia; Hernández, Adrian; … - 2023

This paper analyses the magnitude of automatic income and demand stabilization in EU Member States between 2011 to 2019. Our analysis finds that automatic income stabilization in 2019 averaged 41.3 percent at the EU level, with considerable variation among Member States. While the extent of...

Persistent link: https://www.econbiz.de/10014565167

Credit and fiscal multipliers in China

Chen, Sophia; Ratnovski, Lev; Tsai, Pi-Han - 2019

We estimate credit and fiscal multipliers in China, using subnational political cycles as a source of exogenous variation. The tenure of the provincial party secretary, interacted with the credit and fiscal expenditure used in other provinces, instruments for provincial credit and government...

Persistent link: https://www.econbiz.de/10012148844

State-dependent effects of tax changes in Germany and the United Kingdom

Hayo, Bernd; Mierzwa, Sascha - 2021

indirect taxes) as well as look for possible asymmetries between tax hikes and tax cuts. We find a number of differences across …

Persistent link: https://www.econbiz.de/10012653874

Spillovers from tax shocks to the euro area

Mierzwa, Sascha - 2021

I study the spill-over effects of legislated discretionary tax changes in the United States, Germany, and the United Kingdom to 11 Eurozone countries for the period 1980Q1-2018Q4 employing Local Projections (Jordà, 2005). In general, I find spillovers from US tax legislation to have the...

Persistent link: https://www.econbiz.de/10012653882

Legislative tax announcements and GDP: Evidence from the United States, Germany, and the United Kingdom

Hayo, Bernd; Mierzwa, Sascha - 2021

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 introduction to the legislative body, we analyse the...

Persistent link: https://www.econbiz.de/10012653883