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The financial crisis has opened up a global debate on the taxation of the financial sector. A number of international … financial crisis and whether taxation can play a role in the reform efforts under way to establish a sounder and safer financial …
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We examine the effect of federal and subnational fiscal policy on aggregate demand in the U.S. by introducing the fiscal effect (FE) measure. FE can be decomposed into three components. Discretionary FE quantifies the effect of discretionary or legislated policy changes on aggregate demand....
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