000			01613nab a2200253 c 4500
999			_c143480 _d143480
003			ES-MaIEF
005			20210202102732.0
007			ta
008			210202t2020 us ||||| |||| 00| 0|eng d
040			_aES-MaIEF _bspa _cES-MaIEF
245		0	_aWhat goes up may not come down _basymmetric incidence of value-added taxes _c Youssef Benzarti, Dorian Carloni, Jarkko Harju, Tuomas Kosonen
260			_c2020
500			_aDisponible también en formato electrónico.
500			_aResumen.
504			_aBibliografía.
520			_aThis paper provides evidence that prices respond significantly more strongly to increases than to decreases in value-added taxes (VATs). First, using two plausibly exogenous VAT changes, we show that prices respond twice as much to VAT increases as to VAT decreases. Second, we show that this asymmetry results in higher equilibrium profits and markups. Third, we find that firms operating with low profit margins are particularly likely to respond asymmetrically to VAT changes. Fourth, these asymmetric price effects persist several years after VAT changes take place. Fifth, using all VAT changes in the European Union from 1996 to 2015, we find similar levels of asymmetry.
650		4	_950141 _aIMPUESTO SOBRE EL VALOR AÑADIDO
650		4	_946552 _aINCIDENCIA Y TRASLACION
650		4	_948092 _aPRECIOS
700	1		_967042 _aBenzarti, Youssef
773	0		_9164181 _oOP 229/2020/12 _tJournal of Political Economy _w(IEF)17571 _x 0022-3808 _gv. 128, n. 12, December 2020, p. 4438-4474
856			_uhttps://www.journals.uchicago.edu/doi/pdf/10.1086/710558
942			_cART