The effects of tax shocks on output: Not so large, but not small either

American Economic Journal: Economic Policy

Volumn 4, Issue 2, 2012, Pages 214-237

  Perotti, Roberto ^a,b  

^a BOCCONI UNIVERSITY   (Italy)

^b NBER   (Italy)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84861686817     PISSN: 19457731     EISSN: 1945774X     Source Type: Journal    
DOI: 10.1257/pol.4.2.214     Document Type: Article

References (16)

1. Baxter, Marianne, and Robert G. King. 1993. "Fiscal Policy in General Equilibrium." American Economic Review 83 (3): 315-34.
2. Blanchard, Olivier, and Roberto Perotti. 2002. "An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output." Quarterly Journal of Economics 117 (4): 1329-68.
3. Blanchard, Olivier Jean. 1990. "Suggestions for a New Set of Fiscal Indicators." Organisation for Economic Co-operation and Development (OECD) Working Paper.
4. Cochrane, John H. 1998. "What Do the VARs Mean? Measuring the Output Effects of Monetary Policy." Journal of Monetary Economics 41 (2): 277-300.
5. Favero, Carlo, and Francesco Giavazzi. 2012. "Measuring Tax Multipliers: The Narrative Method in Fiscal VARs." American Economic Journal: Economic Policy 4 (2): 69-94.
6. Galí, Jordi, J. David López-Salido, and Javier Vallés. 2007. "Understanding the Effects of Government Spending on Consumption." Journal of the European Economic Association 5 (1): 227-70.
7. Leeper, Eric M., Alexander W. Richter, and Todd B. Walker. 2012. "Quantitative Effects of Fiscal Foresight." American Economic Journal: Economic Policy 4 (2): 115- 44.
8. Mertens, Karel, and Morten Overgaard Ravn. 2012. "Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated US Tax Policy Shocks." American Economic Journal: Economic Policy 4 (2): 145-81.
9. Mertens, Karel, and Morten O. Ravn. 2011a. "Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy Shocks." Review of Economic Dynamics 14 (1): 27-54.
10. Mertens, Karel, and Morten O. Ravn. 2011b. "The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States." Center for Economic Policy Research Discussion Paper 8554.
11. Perotti, Roberto. 2002. "Estimating the Effects of Fiscal Policy in OECD Countries." European Central Bank Working Paper 168.
12. Perotti, Roberto. 2011a. "The Effects of Tax Shocks on Output: Not So Large, But Not Small Either." National Bureau of Economic Research Working Paper 16786.
13. Perotti, Roberto. 2011b. "Expectations and Fiscal Policy: An Empirical Investigation." Growth and Sustainability Policies for Europe Working Paper 19.
14. Perotti, Roberto. 2012. "The Effects of Tax Shocks on Output: Not So Large, But Not Small Either: Dataset." American Economic Journal: Economic Policy. http://dx.doi.org/10.1257/pol.4.2.214.
15. Romer, Christina D., and David H. Romer. 2010. "The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks." American Economic Review 100 (3): 763-801.
16. Swanson, Eric. 2006. "Econometric Estimation When the 'True' Model Forecasts or Errors Are Observed." Unpublished. http://www.ericswanson.us/paper/etak.pdf.