This paper quantifies the dynamic macroeconomic effects of tax changes in Germany, allowing for anticipation effects of preannounced tax reforms. Identification is achieved using a narrative approach, which provides information about the timing of tax reforms. An anticipated cut in taxes has a...

This paper quantifies the dynamic macroeconomic effects of tax changes in Germany, allowing for anticipation effects of preannounced tax reforms. Identification is achieved using a narrative approach which provides information about the timing of tax reforms. For an anticipated tax shock, we...

Die Lage der öffentlichen Finanzen in Deutschland hat sich in den vergangenen Jahren merklich entspannt. Bei finanzpolitischem Status quo dürften in den kommenden Jahren steigende strukturelle Überschüsse erzielt werden. Jedoch resultiert die derzeit günstige Finanzlage nicht nur aus...