| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8973 |
| DP8973 A Reconciliation of SVAR and Narrative Estimates of Tax Multipliers | |
| Morten Ravn; Karel Mertens | |
| 发表日期 | 2012-05-23 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Existing empirical estimates of US nationwide tax multipliers vary from close to zero to very large. Using narrative measures as proxies for structural shocks to total tax revenues in an SVAR, we estimate tax multipliers at the higher end of the range: around two on impact and up to three after 6 quarters. We show that earlier findings of lower multipliers can be explained by an output elasticity of tax revenues assumption that is contradicted by empirical evidence or by failure to account for measurement error in narrative series of tax shocks. |
| 主题 | International Macroeconomics |
| 关键词 | Fiscal policy Measurement error Narrative identification Tax changes Vector autoregressions |
| URL | https://cepr.org/publications/dp8973 |
| 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/537825 |
| 推荐引用方式 GB/T 7714 | Morten Ravn,Karel Mertens. DP8973 A Reconciliation of SVAR and Narrative Estimates of Tax Multipliers. 2012. |
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