The Laffer curve revisited

Trabandt, Mathias; Uhlig, Harald

doi:10.1016/j.jmoneco.2011.07.003

Cited by 360 publications

(367 citation statements)

References 24 publications

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“…The constant fraction of public spending g financed by current taxes is calibrated so as to match g/y = 0.15. Steady state taxes are set to τ c = 0.05 and τ n = 0.28 which are values calculated for the U.S. by Trabandt and Uhlig (2011). The steady state level of the hiring subsidy is set to τ k = 0.01.…”

Section: Calibration and Quantitative Properties Of The Modelmentioning

confidence: 99%

Fiscal Calculus and the Labor Market

Campolmi

Faia

Winkler

2011

The B.E. Journal of Macroeconomics

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The endorsement of expansionary fiscal packages has often been based on the idea that large multipliers can counteract rising and persistent unemployment. We explore the effectiveness of fiscal stimuli in a model with matching frictions and endogenous participation. Results show that hiring subsidies, contrary to increase in government spending, deliver large multipliers, even with distortionary taxation. Those policies increase the incentives to post vacancies, hence employment. Furthermore, by reducing marginal costs they also reduce inflation and increase private consumption.

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Section: Calibration and Quantitative Properties Of The Modelmentioning

confidence: 99%

Fiscal Calculus and the Labor Market

Campolmi

Faia

Winkler

2011

The B.E. Journal of Macroeconomics

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“…Figure 6 shows the tax rates (aggregated to annual levels) in comparison to the annual effective tax rates constructed by Mendoza et al (1994) and Trabandt and Uhlig (2011). The series constructed here are very close to the most recent data of Trabandt and Uhlig (2011) and also fit the overall movement of the Mendoza et al (1994) data. Figure 7 shows the quarterly effective tax rates used in the estimation.…”

Section: Constructing Effective Tax Ratesmentioning

confidence: 60%

Fiscal Rules and Unemployment

Gehrke

2018

Macroecon. Dynam.

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. and consumption tax cuts are substantial, even though output multipliers turn out to be less than one. Second, multipliers for labor tax cuts are small. Third, fiscal rules enhance the positive effects of discretionary fiscal policy. However, these expansionary effects on the multipliers are modest compared to earlier studies. Terms of use: Documents in EconStor mayJEL Classification: E62, J20, C11

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“…The profiles of γ t−v and δ h t−v are illustrated in the right-hand panel of Figure 1. We set the capital share of output (ε k ) equal to 0.38 as suggested by Trabandt and Uhlig (2011). The depreciation rate of physical capital (δ k ) equals 0.08 and we normalize the aggregate level of productivity (Ω) to unity.…”

Section: Parameterizationmentioning

confidence: 99%

Stimulating annuity markets

Heijdra

Mierau

Trimborn³

2016

Journal of Pension Economics and Finance

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We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partialequilibrium effects of stimulating annuity markets are counteracted by negative generalequilibrium repercussions. Balancing the positive partial-equilibrium and negative generalequilibrium forces we show that there exists some intermediate level of annuitization such that long-run welfare is maximized. Studying the transition to the optimal degree of annuitization shows that currently middle-aged individuals stand to gain most from the stimulation of annuity markets. JEL-Code: C680, D910, J140, H550.

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The Laffer curve revisited

Cited by 360 publications

References 24 publications

Fiscal Calculus and the Labor Market

Fiscal Calculus and the Labor Market

Fiscal Rules and Unemployment

Stimulating annuity markets

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