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The Economic Consequences of the Brexit Vote

Born, Benjamin; Müller, Gernot; Schularick, Moritz; … - 2017

The unexpected outcome of the Brexit vote in June 2016 provides a rare macroeconomic experiment to study the aggregate consequences of a sudden change in expectations regarding future economic prospects. Using synthetic control methods, we show that forward looking households and businesses...

Persistent link: https://www.econbiz.de/10011777645

WTO Membership and the Shift to Consumption Taxes

Buettner, Thiess; Madzharova, Boryana - 2016

implications of membership in the World Trade Organization (WTO). Em-ploying robust difference-in-difference specifications as well … before trade liberalization commitments result in declining tariff revenues. …

Persistent link: https://www.econbiz.de/10011522552

WTO membership and the shift to consumption taxes

Büttner, Thiess; Madzharova, Boryana - 2016

Persistent link: https://www.econbiz.de/10011522137

Revisiting the trade effects of services agreements

Shingal, Anirudh - Volkswirtschaftliche Fakultät, … - 2013

The proliferation of services trade agreements and improved availability of data on bilateral services trade flows has … resulted in a growing literature on the theoretical and empirical assessment of services trade effects. In this paper, we … revisit the trade effects of services agreements using an updated database on bilateral services trade flows from the OECD and …

Persistent link: https://www.econbiz.de/10011112164

Macroeconomic effects of the anticipation and implementation of tax changes in Germany: Evidence from a narrative account

Christofzik, Désirée I.; Fuest, Angela; Jessen, Robin - 2020

This paper quantifies the dynamic macroeconomic effects of tax changes in Germany, allowing for anticipation effects of preannounced tax reforms. Identification is achieved using a narrative approach which provides information about the timing of tax reforms. For an anticipated tax shock, we...

Persistent link: https://www.econbiz.de/10012234812

Macroeconomic effects of the anticipation and implementation of tax changes in Germany : evidence from a narrative account

Christofzik, Désirée I.; Fuest, Angela; Jessen, Robin - 2020

Persistent link: https://www.econbiz.de/10012233938

Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy Shocks

Mertens, Karel; Ravn, Morten O - C.E.P.R. Discussion Papers - 2009

We evaluate the extent to which a dynamic stochastic general equilibrium model can account for the impact of "surprise" and "anticipated" tax shocks estimated from U.S. time-series data. In U.S. data, surprise tax cuts have expansionary and persistent effects on output, consumption, investment...

Persistent link: https://www.econbiz.de/10008477183

Measuring the Impact of Fiscal Policy in the Face of Anticipation: A Structural VAR Approach

Mertens, Karel; Ravn, Morten O - C.E.P.R. Discussion Papers - 2009

Empirical estimates of the impact of government spending shocks disagree on central issues such as the size of output multipliers and the responses of consumption and the real wage. One explanation for the disagreement is that fiscal shocks are often anticipated. Due to misspecification of the...

Persistent link: https://www.econbiz.de/10005068289

The Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks: Theory and Empirical Evidence

Mertens, Karel; Ravn, Morten O - C.E.P.R. Discussion Papers - 2008

We provide empirical evidence on the effects of tax liability changes in the United States. We make a distinction between "surprise" and "anticipated" tax shocks. Surprise tax cuts give rise to a large boom in the economy. Anticipated tax liability tax cuts are instead associated with a...

Persistent link: https://www.econbiz.de/10005497768

The Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks: Theory and Empirical Evidence

Mertens, Karel; Ravn, Morten O. - Department of Economics, European University Institute - 2008

We provide empirical evidence on the effects of tax liability changes in the United States. We make a distinction between “surprise” and “anticipated” tax shocks. Surprise tax cuts give rise to a large boom in the economy. Anticipated tax liability tax cuts are instead associated with a...

Persistent link: https://www.econbiz.de/10005697665