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Day of reckoning : output losses from fiscal stabilizations
Ferraro, Domenico; Peretto, Pietro F. - 2018
context of a general equilibrium model of innovation-led growth. In the model, innovation comes from entrant firms creating …
Persistent link: https://www.econbiz.de/10012125472
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The macroeconomic effect of fiscal policy in South Africa : a narrative analysis
Loate, Tumisang; Houssa, Romain; Viegi, Nicola - 2021
This paper analyses the macroeconomic effect of legislated personal income tax changes in South Africa over the 1996-2019 period. We identify personal income tax shocks using a narrative approach and incorporate these shocks in a proxySVAR model. Our analysis shows that permanent changes in...
Persistent link: https://www.econbiz.de/10012650809
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Proxy SVARs : asymptotic theory, bootstrap inference, and the effects of income tax changes in the United States
Jentsch, Carsten; Lunsford, Kurt G. - 2016
Proxy structural vector autoregressions (SVARs)identify structural shocks in vector autoregressions (VARs) with external proxy variables that are correlated with the structural shocks of interest but uncorrelated with other structural shocks. We provide asymptotic theory for proxy SVARs when the...
Persistent link: https://www.econbiz.de/10011570152
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Robustness report on "Discretionary tax changes and the macroeconomy: new narrative evidence from the United Kingdom", by James Cloyne (2013)
Kopecky, Joseph; Campbell, Douglas L.; Brodeur, Abel; … - 2024
Cloyne (2013) constructs a novel dataset documenting fiscal tax shocks in the United Kingdom using the narrative approach developed by Romer and Romer (2010), and estimates the impact of tax changes on GDP. He finds that a tax cut of one percent of GDP causes a 0.6 percent increase in output in...
Persistent link: https://www.econbiz.de/10014556602
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Job creation tax credits, fiscal foresight, and job growth : evidence from U.S. states
Chirinko, Robert S.; Wilson, Daniel J. - 2016
This paper studies the effects of job creation tax credits (JCTCs) enacted by U.S. states between 1990 and 2007 to gain insights about fiscal foresight (alterations of current behavior by forwardlooking agents in anticipation of future policy changes). Nearly half of the states adopted JCTCs...
Persistent link: https://www.econbiz.de/10011432544
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Reorienting fiscal policy : a critical assessment of fiscal fine-tuning
Tcherneva, Pavlina R. - 2013
The present paper offers a fundamental critique of fiscal policy as it is understood in theory and exercised in practice. Two specific demand-side stabilization methods are examined here: conventional pump priming and the new designation of fiscal policy effectiveness found in the New Consensus...
Persistent link: https://www.econbiz.de/10009787031
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Reorienting Fiscal Policy : A Critical Assessment of Fiscal Fine-Tuning
Tcherneva, Pavlina R. - 2014
The present paper offers a fundamental critique of fiscal policy as it is understood in theory and exercised in practice. Two specific demand-side stabilization methods are examined here: conventional pump priming and the new designation of fiscal policy effectiveness found in the New Consensus...
Persistent link: https://www.econbiz.de/10013063130
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Fiscal policy experiments
Georgakopoulos, Ilias - 2019
-sector general equilibrium model is constructed in which heterogeneous agents differ in productivity and holdings of capital in the …
Persistent link: https://www.econbiz.de/10012112297
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Subsidising car purchases in the euro area : any spill-over on production?
Paredes, Joan - 2017
Due to input-output linkages, an industry level shock can widely transmit to the rest of the economy. We identify government policies on the automobile industry, which change final prices and estimate their effect on sales and production. An example could be the scrappage schemes that many...
Persistent link: https://www.econbiz.de/10011710106
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Productivity, misallocation, and special tax regimes in the Dominican Republic
Azuero, Rodrigo; Bosch Mossi, Mariano; Cardoza, Marvin; … - 2019
This paper advances understanding of the relationship between tax policy and productivity, taking advantage of unique … data from the Dominican Republic to document a significant negative impact of tax regulations on total factor productivity … (TFP). It begins by estimating productivity using administrative records provided by the tax authorities. Then, it …
Persistent link: https://www.econbiz.de/10012107013