| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w30246 |
| 来源ID | Working Paper 30246 |
| Short-Term Tax Cuts, Long-Term Stimulus | |
| James Cloyne; Joseba Martinez; Haroon Mumtaz; Paolo Surico | |
| 发表日期 | 2022-07-18 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We study the persistent effects of temporary changes in U.S. federal corporate and personal income tax rates using a narrative identification approach. A corporate income tax cut leads to a sustained increase in GDP and productivity, with peak effects between five and eight years. R&D spending and capital investment display hump-shaped responses while hours worked and employment are much less affected. In contrast, personal income tax cuts trigger a short-lived boost to GDP, productivity and hours worked but have no long-term effects. We develop and estimate an endogenous growth model with variable factor utilization and show that these features generate a pro-cyclical response of productivity which is key to account for our empirical findings. |
| 主题 | Macroeconomics ; Consumption and Investment ; Fiscal Policy ; Public Economics ; Taxation ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w30246 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587918 |
| 推荐引用方式 GB/T 7714 | James Cloyne,Joseba Martinez,Haroon Mumtaz,et al. Short-Term Tax Cuts, Long-Term Stimulus. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w30246.pdf（1924KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
