This paper leverages a novel survey among German senior government officials to investigate fiscal responses to monetary policy shocks. Using randomized vignette treatments, we present officials with scenarios of increased government interest costs and analyze their expected fiscal adjustments....

Using a narrative identification of tax changes in the United States over the post-WWII period, we document that a temporary cut in corporate income tax rates leads to a long-lasting increase in innovation and productivity, whereas changes in personal income tax rates only have short-term...

This paper considers the role of fiscal policy in New Zealand's macroeconomic stabilisation. New Zealand's macroeconomic framework is characterised by an institutional arrangement whereby monetary policy has the primary responsibility for macroeconomic stabilisation. In contrast, fiscal policy...