The Fiscal State-Dependent Effects of Capital Income Tax Cuts /
Using the post-WWII data of U.S. federal corporate income tax changes, within a Smooth Transition VAR, this paper finds that the output effect of capital income tax cuts is government debt-dependent: it is less expansionary when debt is high than when it is low. To explore the mechanisms that can dr...
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| 其他作者: | , |
| 格式: | 杂志 |
| 语言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2020.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 2020/071 |
| 在线阅读: | Full text available on IMF |