Data and Code for: The Macroeconomic Effects of Income and Consumption Tax Changes
Principal Investigator(s): View help for Principal Investigator(s) Anh Dinh Minh Nguyen, Bank of Lithuania; Luisanna Onnis, University of Huddersfield; Raffaele Rossi, University of Manchester
Version: View help for Version V4
| Name | File Type | Size | Last Modified |
|---|---|---|---|
| Replication-Codes-AEJPol-2017-0241 | 05/19/2020 03:37:PM |
Project Citation:
Nguyen, Anh Dinh Minh, Onnis, Luisanna, and Rossi, Raffaele. Data and Code for: The Macroeconomic Effects of Income and Consumption Tax Changes. Nashville, TN: American Economic Association [publisher], 2021. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2021-04-08. https://doi.org/10.3886/E118981V4
Project Description
Summary:
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Code and Data for replicating "The Macroeconomic Effects of Income and Consumption Tax Changes" by Nguyen, Onnis and Rossi. AEJPol-2017-0241
Abstract: "This paper estimates the effects of exogenous changes in income and consumption taxes. The tax shocks are proxied with a narrative account of tax liability changes in the United Kingdom. Income tax cuts have large effects on GDP, private consumption and investment. The effects of consumption tax cuts are modest and not statistically significant on GDP and its components. Shifting the burden of taxation from income to consumption is expansionary. Consistent with conventional public finance theories, these results indicate that it is crucial to distinguish between direct and indirect taxation when studying the transmission mechanism of fiscal policy."
Abstract: "This paper estimates the effects of exogenous changes in income and consumption taxes. The tax shocks are proxied with a narrative account of tax liability changes in the United Kingdom. Income tax cuts have large effects on GDP, private consumption and investment. The effects of consumption tax cuts are modest and not statistically significant on GDP and its components. Shifting the burden of taxation from income to consumption is expansionary. Consistent with conventional public finance theories, these results indicate that it is crucial to distinguish between direct and indirect taxation when studying the transmission mechanism of fiscal policy."
Scope of Project
Subject Terms:
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macroeconomics;
TAX
JEL Classification:
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E62 Fiscal Policy
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
H25 Business Taxes and Subsidies including sales and value-added (VAT)
E62 Fiscal Policy
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
H25 Business Taxes and Subsidies including sales and value-added (VAT)
Geographic Coverage:
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United Kingdom
Time Period(s):
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1973 – 2009
Data Type(s):
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administrative records data;
aggregate data;
program source code
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