The COVID-19 pandemic caused a sharp global economic decline. The U.S. government responded to the downturn with record fiscal legislation totaling over $5 trillion, which includes considerable tax relief. Most notably, the U.S. government distributed over $800 billion in three rounds of...

Despite this phenomenal success and the Biden administration’s strong support, a divided Congress narrowly failed to extend these enhancements to 2022. The adverse impact was immediate. The January 2022 monthly child poverty rate increased by more than 40 percent to 17 percent in January 2022,...

This Article presents the first empirical examination of giving to § 501(c)(4) organizations, which have recently become important players in U.S. politics. Gifts to c(4) organizations are highly elastic to the after-tax price of charitable giving. At the lower end of the observed tax price...

We study state-dependent effects of narratively identified tax shocks in Germany and the UK over the period 1974Q1-2018Q4 using local projections. In addition, we distinguish between aggregated and disaggregated tax types (direct and indirect taxes) as well as look for possible asymmetries...

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...

During the 2009 Pittsburgh Summit, G20 leaders recognized the harmful effects of inefficient fossil fuel subsidies on markets and the environment, and committed to “rationalize and phase out over the medium term inefficient fossil fuels subsidies that encourage wasteful consumption.” To...

This paper reviews the economic effects of the EU Savings Taxation Directive. The Directive aims at enabling taxation of foreign interest payments received by individuals in accordance with the rules of their State of residence. The data suggest that the Directive, which is based on automatic...

In this article, the author reviews the continuing controversy over the Reagan tax cut. Republicans often assert that it was so expansionary that there was no revenue loss, something the Reagan administration itself never claimed. The truth is that the tax cut lost a lot of revenue, but helped...

This article discusses the origin and effects of George W. Bush's 2001 tax cut. It concludes that it was a failure except in terms of dissipating the budget surplus, which was one of its primary purposes