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An Estimated Fiscal Taylor Rule for the Postwar United States
Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 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 … the recent discussion about spending reversals is highly relevant …
Persistent link: https://www.econbiz.de/10009149137
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An estimated fiscal Taylor Rule for the postwar United States
Reicher, Christopher Phillip - In: Economics Letters 114 (2012) 3, pp. 319-321
strongly to deficits, while transfers do not. Taxes are procyclical; purchases are acyclical; and transfers are countercyclical …This paper estimates a multi-instrument fiscal Taylor Rule for the United States. Taxes and purchases both respond …
Persistent link: https://www.econbiz.de/10010572224
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Fiscal Taylor rules in the postwar United States
Reicher, Christopher Phillip - 2009
stabilize its debt through adjustments to purchases and taxes, in that order, with very little stabilization coming through …
Persistent link: https://www.econbiz.de/10010276372
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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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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/10010319101
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A set of estimated fiscal rules for a cross-section of countries: Stabilization and consolidation through which instruments?
Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 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/10010886930
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A set of estimated fiscal rules for a cross-section of countries: Stabilization and consolidation through which instruments?
Reicher, Claire - In: Journal of Macroeconomics 42 (2014) C, pp. 184-198
Not much cross-country evidence exists on the time-series behavior of individual fiscal instruments in response to the public debt and to output. To remedy this situation, this study provides a set of detailed estimated fiscal reaction functions (or “fiscal rules”) governing these responses...
Persistent link: https://www.econbiz.de/10011117991
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An estimated fiscal Taylor rule for the postwar United States
Reicher, Christopher Phillip - 2011
the recent discussion about spending reversals is highly relevant. -- Spending reversals ; Fiscal Taylor Rule ; deficits … ; fiscal policy ; taxes ; spending ; transfer payments … using a multivariate Fiscal Taylor Rule. Adjustments to taxes and purchases both account for a large portion of the fiscal …
Persistent link: https://www.econbiz.de/10009152534
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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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Fiscal Stimulus and Distortionary Taxation
Drautzburg, Thorsten - 2012
We quantify the fiscal multipliers in response to the American Recovery and Reinvestment Act (ARRA) of 2009. We extend the benchmark Smets-Wouters (2007) New Keynesian model, allowing for credit-constrained households, the zero lower bound, government capital and distortionary taxation. The...
Persistent link: https://www.econbiz.de/10013114666