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Table Of Contents

1 Introduction
2.1 The VAR
2.2 Identification
2.3 Impulse responses
2.4 Discussion
3.1 High-frequency properties
3.2 Low-frequency properties
4 Contemporaneous effects
5.1 Effects of estimated tax shocks
5.2 Dynamic effects of the 1975:2 net tax cut
6 Dynamic effects of spending
7.1 Sub-sample stability
7.2 Quarter dependence
7.3 Cointegration
7.4 Alternative net taxelasticities
7.5 Anticipated fiscal policy
8.1 Using dummies for the major tax and spending
8.2 Defense vs. non-defense spending
8.3 Discussion
9.1 The system
9.2 Response to a tax shock
9.3 Response to a spending shock
10 Conclusions
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SVAR Component

SVAR Component

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Published by: Nguyen Thi Hoang Giang on Jun 04, 2012
Copyright:Attribution Non-commercial

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06/04/2012

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