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After the death of inflation : will fiscal drag survive?
Heinemann, Friedrich - 2000
back theoretical considerations on inflation's impact on different kinds of taxes: This impact tends to be positive for …Declining inflation rates might have negative consequences for tax revenues. Phenomena like the inflationary bracket … fiscal drag for OECD countries since 1965. Some considerations on the role of money illusion and indexation in this context …
Persistent link: https://www.econbiz.de/10011444606
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A set of estimated fiscal rules for a cross section of countries : stabilization and consolidation through which instruments?
Reicher, Christopher Phillip - 2013
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...
Persistent link: https://www.econbiz.de/10009782452
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Automatic stabilizers and economic crisis : US vs. Europe
Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - 2009
This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...
Persistent link: https://www.econbiz.de/10003922975
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Effectiveness of countercyclical fiscal policy : time-series evidence from developing Asia
Jha, Shikha; Mallick, Sushanta Kumar; Park, Donghyun; … - 2010
As the global crisis hit developing Asia, several countries instituted fiscal stimulus measures to create domestic demand. With the region returning to normal times, in this paper we draw lessons using historical data from 10 developing Asian countries to examine if countercyclical fiscal policy...
Persistent link: https://www.econbiz.de/10008658807
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Fiscal stimulus and distortionary taxation
Drautzburg, Thorsten; Uhlig, Harald - 2011 - This revision: May 30, 2011
We quantify the fiscal multipliers in response to the American Recovery and Reinvestment Act (ARRA) of 2009. We extend the benchmark Smets-Wouters (Smets and Wouters, 2007) New Keynesian model, allowing for credit-constrained households, the zero lower bound, government capital and distortionary...
Persistent link: https://www.econbiz.de/10009129765
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An estimated fiscal Taylor rule for the postwar United States
Reicher, Christopher Phillip - 2011
using a multivariate Fiscal Taylor Rule. Adjustments to taxes and purchases both account for a large portion of the fiscal … response to debt, while authorities seem reluctant to adjust transfers. As expected, taxes are highly procyclical; purchases … ; fiscal policy ; taxes ; spending ; transfer payments …
Persistent link: https://www.econbiz.de/10009152534
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Public finance, aid, and post-conflict recovery
Boyce, James K. (contributor) - 2007
In the wake of violent conflict, a key element of building a durable peace is building a state with the ability to collect and manage public resources. To implement peace accords and provide public services, the government must be able to collect revenue, allocate resources, and manage...
Persistent link: https://www.econbiz.de/10003733938
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Spillovers from tax shocks to the euro area
Mierzwa, Sascha - 2021 - This version: 07 September 2021
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...
Persistent link: https://www.econbiz.de/10012649097
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Legislative tax announcements and GDP : evidence from the United States, Germany, and the United Kingdom
Hayo, Bernd; Mierzwa, Sascha - 2021 - This version: 08 October 2021
We study the announcement effect of legislated tax changes on GDP in the US, Germany, and the UK. Using, as the shock of interest, narratively identified information (Romer & Romer, 2009) about future tax changes at the quarter of their introduction to the legislative body, we analyse the...
Persistent link: https://www.econbiz.de/10012649099
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State-dependent effects of tax changes in Germany and the United Kingdom
Hayo, Bernd; Mierzwa, Sascha - 2021 - This version: 13 July 2021
indirect taxes) as well as look for possible asymmetries between tax hikes and tax cuts. We find a number of differences across …
Persistent link: https://www.econbiz.de/10012591522