Replication data for: Discretionary Tax Changes and the Macroeconomy: New Narrative Evidence from the United Kingdom
Principal Investigator(s): View help for Principal Investigator(s) James Cloyne
Version: View help for Version V1
Name | File Type | Size | Last Modified |
---|---|---|---|
20111351_data | 10/11/2019 06:46:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/11/2019 02:46:PM |
Project Citation:
Cloyne, James. Replication data for: Discretionary Tax Changes and the Macroeconomy: New Narrative Evidence from the United Kingdom. Nashville, TN: American Economic Association [publisher], 2013. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112651V1
Project Description
Summary:
View help for Summary
This paper provides new estimates of the macroeconomic effects of tax changes using a new narrative dataset for the United Kingdom. Identification is achieved by isolating “exogenous†tax policy changes using the Romer and Romer narrative strategy. I find that a 1 percent cut in taxes increases GDP by 0.6 percent on impact and 2.5 percent over three years. The findings are remarkably similar to Romer and Romer narrative estimates for the United States, reinforcing the view that tax changes have powerful and persistent effects. “Exogenous†tax changes are also shown to have contributed to important episodes in the UK business cycle.
Scope of Project
JEL Classification:
View help for JEL Classification
E23 Macroeconomics: Production
E32 Business Fluctuations; Cycles
E62 Fiscal Policy
H20 Taxation, Subsidies, and Revenue: General
H61 National Budget; Budget Systems
E23 Macroeconomics: Production
E32 Business Fluctuations; Cycles
E62 Fiscal Policy
H20 Taxation, Subsidies, and Revenue: General
H61 National Budget; Budget Systems
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.