expectations, a structural labor demand model, and a tax-benefit microsimulation model. Our findings show that as of September 2020 …. However, the tax benefit system and discretionary policy responses to the crisis act as important income stabilizers, since …

expectations, a structural labor demand model, and a tax-benefit microsimulation model. Our findings show that as of September 2020 …. However, the tax benefit system and discretionary policy responses to the crisis act as important income stabilizers, since …

Unanticipated changes in tax policy are likely to have different macroeconomic effects compared to anticipated changes … drives such policy surprises. We explore the nature of unanticipated tax policy changes by focusing on a political economy … over the period 1990-2018, we show that implementation lags tend to be significantly longer for tax policy change …

empirically relevant. Ex-ante macro prudential regulation reduces welfare by reducing consumption smoothing. …