Replication data for: Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated US Tax Policy Shocks
Principal Investigator(s): View help for Principal Investigator(s) Karel Mertens; Morten O. Ravn
Version: View help for Version V1
Name | File Type | Size | Last Modified |
---|---|---|---|
data | 10/27/2021 09:53:AM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/13/2019 03:08:AM |
Project Citation:
Mertens, Karel, and Ravn, Morten O. Replication data for: Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated US Tax Policy Shocks. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114781V1
Project Description
Summary:
View help for Summary
We provide evidence on the dynamic effects of tax liability changes in the United States. We distinguish between surprise and anticipated tax changes. Preannounced but not yet implemented tax cuts give rise to contractions in output, investment, and hours worked while real wages increase. There are no significant anticipation effects on
aggregate consumption. Implemented tax cuts, regardless of their timing, have expansionary effects, on output, consumption, investment, hours worked, and real wages. Results are shown to be robust. Tax shocks are important impulses to the US business cycle and
anticipation effects have been important during several business cycle episodes. (JEL E23, E32, E62, H20, H30)
Scope of Project
Subject Terms:
View help for Subject Terms
fiscal policy;
Proxy SVAR
JEL Classification:
View help for JEL Classification
E23 Macroeconomics: Production
E32 Business Fluctuations; Cycles
E62 Fiscal Policy
H20 Taxation, Subsidies, and Revenue: General
H30 Fiscal Policies and Behavior of Economic Agents: General
E23 Macroeconomics: Production
E32 Business Fluctuations; Cycles
E62 Fiscal Policy
H20 Taxation, Subsidies, and Revenue: General
H30 Fiscal Policies and Behavior of Economic Agents: General
Data Type(s):
View help for Data Type(s)
observational data;
program source code;
aggregate data
Related Publications
Published Versions
Report a Problem
Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.
This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.