Replication data for: Unconventional Fiscal Policy
Principal Investigator(s): View help for Principal Investigator(s) Francesco D'Acunto; Daniel Hoang; Michael Weber
Version: View help for Version V1
Name | File Type | Size | Last Modified |
---|---|---|---|
AER_PP_DHW_code.do | text/plain | 719 bytes | 10/12/2019 09:03:PM |
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 09:03:PM |
inflation_data_PL_PP.dta | application/octet-stream | 8.1 KB | 10/12/2019 09:03:PM |
readme.pdf | application/pdf | 18.5 KB | 10/12/2019 09:03:PM |
Project Citation:
D’Acunto, Francesco, Hoang, Daniel, and Weber, Michael. Replication data for: Unconventional Fiscal Policy. Nashville, TN: American Economic Association [publisher], 2018. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114462V1
Project Description
Summary:
View help for Summary
Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We provide preliminary evidence for the effectiveness of such policies using changes in value-added tax (VAT) and household survey data for Poland. We find households increased their inflation expectations and willingness to purchase durables before the increase in VAT. Future research has to ensure income, wealth effects, or intratemporal substitution channels cannot explain these results and ideally exploit exogenous variation in VAT in a fixed nominal interest rate environment.
Scope of Project
JEL Classification:
View help for JEL Classification
E21 Macroeconomics: Consumption; Saving; Wealth
E31 Price Level; Inflation; Deflation
E43 Interest Rates: Determination, Term Structure, and Effects
E62 Fiscal Policy
H25 Business Taxes and Subsidies including sales and value-added (VAT)
E21 Macroeconomics: Consumption; Saving; Wealth
E31 Price Level; Inflation; Deflation
E43 Interest Rates: Determination, Term Structure, and Effects
E62 Fiscal Policy
H25 Business Taxes and Subsidies including sales and value-added (VAT)
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.