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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...
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should spending be cut and how much should taxes be raised? Does the national debt represent a burden for future generations …? Should taxes on the rich be raised? This book examines how the tools of public economics can be applied to answer such key …. It would be possible to raise taxes more and to cut spending less. It is important to consider the full range of possible …
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