Hebous, Shafik
Revisiting the narrative approach of estimating tax multipliers / Shafik Hebous, Tom Zimmermann .-- , 2018
Disponible en formato electrónico a través de la Biblioteca del IEF.
Resumen.
Bibliografía.
We analyze whether popular measures of narrative tax shocks can be treated as relevant instruments for observable endogenous tax series of interest. We find that narrative
tax measures are only weakly correlated with cyclically adjusted tax revenues for the US and the UK. Using weak-instrument robust inference, narrative tax measures often yield insignificant estimates of tax multipliers. We conclude that the literature currently understates the uncertainty associated with estimating the tax multiplier using the narrative approach.
POLITICA FISCAL
EFECTO MULTIPLICADOR
REINO UNIDO
ESTADOS UNIDOS
Zimmermann, Tom
The Scandinavian Journal of Economics 0347-0520 v. 120, n. 2, 2018, p. 428-439
Revisiting the narrative approach of estimating tax multipliers / Shafik Hebous, Tom Zimmermann .-- , 2018
Disponible en formato electrónico a través de la Biblioteca del IEF.
Resumen.
Bibliografía.
We analyze whether popular measures of narrative tax shocks can be treated as relevant instruments for observable endogenous tax series of interest. We find that narrative
tax measures are only weakly correlated with cyclically adjusted tax revenues for the US and the UK. Using weak-instrument robust inference, narrative tax measures often yield insignificant estimates of tax multipliers. We conclude that the literature currently understates the uncertainty associated with estimating the tax multiplier using the narrative approach.
POLITICA FISCAL
EFECTO MULTIPLICADOR
REINO UNIDO
ESTADOS UNIDOS
Zimmermann, Tom
The Scandinavian Journal of Economics 0347-0520 v. 120, n. 2, 2018, p. 428-439