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The Structure of the Tax System versus the Level of Taxation: An Evaluation of the 1986 Act

[Symposium: Tax Reform Act of 1986]

By J. Gregory Ballentine

Journal of Economic Perspectives, Winter 1992

In this paper, I assess the 1986 Tax Reform Act relative to the tax system that might have evolved over the several years following 1986 had that particular tax reform not been enacted. Had tax reform not been enacted, I believe that the pattern of steady...

Clearing Up the Fiscal Multiplier Morass

By Eric M. Leeper, Nora Traum, and Todd B. Walker

American Economic Review, August 2017

We quantify government spending multipliers in US data using Bayesian prior and posterior analysis of a monetary model with fiscal details and two distinct monetary-fiscal policy regimes. The combination of model specification, observable data, and relati...