全球智库信息集成服务系统(G2TT): DP5724 A Quasi Maximum Likelihood Approach for Large Approximate Dynamic Factor Models

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP5724
	DP5724 A Quasi Maximum Likelihood Approach for Large Approximate Dynamic Factor Models
	Lucrezia Reichlin; Catherine Doz; Domenico Giannone
发表日期	2006-06-16
出版年	2006
语种	英语
摘要	The goal of this paper is to examine the shape of the Laffer curve quantitatively in a simple neoclassical growth model calibrated to the US as well as to the EU-15 economy. We show that the US and the EU-15 area are located on the left side of their labor and capital tax Laffer curves, but the EU-15 economy being much closer to the slippery slopes than the US. Our results indicate that since 1975 the EU-15 area has moved considerably closer to the peaks of their Laffer curves. We find that the slope of the Laffer curve in the EU-15 economy is much flatter than in the US which documents a much higher degree of distortions in the EU-15 area. A dynamic scoring analysis shows that more than one half of a labor tax cut and more than four fifth of a capital tax cut are self-financing in the EU-15 economy.
主题	International Macroeconomics ; Public Economics
关键词	Laffer curve Us and eu-15 economy
URL	https://cepr.org/publications/dp5724
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/534556
推荐引用方式 GB/T 7714	Lucrezia Reichlin,Catherine Doz,Domenico Giannone. DP5724 A Quasi Maximum Likelihood Approach for Large Approximate Dynamic Factor Models. 2006.