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Most studies on cyclical fiscal policy ignore statutory taxes due to a lack of data. In this paper I build on singular data on statutory tax rates in Israel, in order to study how they are changed by the government in expansions and recessions. After differentiating between ideological...
Persistent link: https://www.econbiz.de/10011108484
This paper provides an example aimed at calculating the optimal inheritance tax in a model in which inheritances are used to finance investment in education. Two results are obtained: (1) The optimal inheritance tax schedule includes a threshold, estimated between 2.5 and 5.5 times per-capita...
Persistent link: https://www.econbiz.de/10010988704
This paper estimates the impact of policy variables on the per-capita Business Sector GDP in Israel in the framework of an extended neo-classical model. The methodology assesses the impact of policy variables on the components of the production function: factors of production (capital and...
Persistent link: https://www.econbiz.de/10005629143
This paper studies the role of business cycles in the phenomenon of increasing government-spending/GDP ratios in the OECD countries. An empirical framework that includes both long-run and cyclical considerations in the determination of government spending is applied to panel data covering...
Persistent link: https://www.econbiz.de/10005740985
Persistent link: https://www.econbiz.de/10005757291
This paper examines the optimal reaction of fiscal policy to permanent and transitory shocks to output in a model of tax and public consumption smoothing. The model predicts that optimal reaction of public expenditures and deficits to transitory shocks should be countercyclical, while optimal...
Persistent link: https://www.econbiz.de/10005791927
Persistent link: https://www.econbiz.de/10005287931
Persistent link: https://www.econbiz.de/10005269670
Persistent link: https://www.econbiz.de/10005191954
This paper uses the Aguiar and Gopinath (2007) methodology in order to estimate whether “the cycle is the trend” in 23 emerging markets and 22 OECD economies. These estimates are then used to test whether procyclical fiscal policy in emerging countries is due to persistent shocks to...
Persistent link: https://www.econbiz.de/10009643945