Replication data for: Discretionary Tax Changes and the Macroeconomy: New Narrative Evidence from the United Kingdom
- Cloyne, James
AbstractThis paper provides new estimates of the macroeconomic effects of tax changes using a new narrative dataset for the United Kingdom. Identification is achieved by isolating â€œexogenousâ€ tax policy changes using the Romer and Romer narrative strategy. I find that a 1 percent cut in taxes increases GDP by 0.6 percent on impact and 2.5 percent over three years. The findings are remarkably similar to Romer and Romer narrative estimates for the United States, reinforcing the view that tax changes have powerful and persistent effects. â€œExogenousâ€ tax changes are also shown to have contributed to important episodes in the UK business cycle.
Is supplement to
DOI: 10.1257/aer.103.4.1507 (Text)
Cloyne, James. “Discretionary Tax Changes and the Macroeconomy: New Narrative Evidence from the United Kingdom.” American Economic Review 103, no. 4 (June 2013): 1507–28. https://doi.org/10.1257/aer.103.4.1507.
- ID: 10.1257/aer.103.4.1507 (DOI)
Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12