Discretionary Tax Changes and the Macroeconomy: New Narrative Evidence from the United Kingdom

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...

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Bibliographic Details
Published in:The American economic review 2013-06, Vol.103 (4), p.1507-1528
Main Author: Cloyne, James
Format: Article
Language:English
Subjects:
Budgets
Business cycles
Central banks
Changes
Datasets
Discretionary power
Economic development
Economic fluctuations
Elasticity
Estimated taxes
Estimates
Estimation
Federal budget deficit
Fiscal policy
GDP
Gross Domestic Product
Income taxes
Macroeconomics
Narratives
Policy making
Shorter Papers
Studies
Tax cuts
Tax increases
Tax policy
Tax revenues
Taxation
Taxes
U.S.A
United Kingdom
Western Europe
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