Regional Effects of Federal Tax Shocks
| Autor: | Matthias Uhl, Bernd Hayo |
|---|---|
| Rok vydání: | 2014 |
| Předmět: |
Tax policy
Economics and Econometrics Romer jel:E62 Measures of national income and output jel:E32 Fiscal Policy Tax Policy Narrative Approach U.S. States Regional Effects Asymmetries in Fiscal Policy Transmission jel:H20 Fiscal policy Shock (economics) Autoregressive model jel:R10 Econometrics Economics jel:R11 |
| Zdroj: | Southern Economic Journal. :140425121019003 |
| ISSN: | 0038-4038 |
| DOI: | 10.4284/0038-4038-2013.133 |
| Popis: | This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie between –0.2 in Utah and –3.3 in Hawaii. Statistically, the difference between state and national output effect is significant in about half the U.S. states. Analyzing the determinants of differences in the magnitude of regional tax multipliers suggests that industry composition of output and socio-demographic characteristics help explain the observed asymmetry across U.S. states in the transmission of federal tax policy. |
| Databáze: | OpenAIRE |
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