The Macroeconomic Effects of Income and Consumption Tax Changes
نویسندگان
چکیده
This paper estimates the effects of exogenous changes in income and consumption taxes. The tax shocks are proxied with a narrative account liability United Kingdom. Income cuts have large on GDP, private consumption, investment. modest not statistically significant GDP its components. Shifting burden taxation from to is expansionary. Consistent conventional public finance theories, these results indicate that it crucial distinguish between direct indirect when studying transmission mechanism fiscal policy. (JEL E21, E22, E23, H24, H25)
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ژورنال
عنوان ژورنال: American Economic Journal: Economic Policy
سال: 2021
ISSN: ['1945-7731', '1945-774X', '1945-7812']
DOI: https://doi.org/10.1257/pol.20170241