The Effects of Tax Changes at the Zero Lower Bound: Evidence from Japan

Akihisa Kato, Wataru Miyamoto, Thuy Lan Nguyen and Dmitriy Sergeyev

AEA Papers and Proceedings, 2018, vol. 108, 513-18

Abstract: We use the narrative approach to identify tax changes unrelated to current economic conditions and estimate the effects of these changes on macroeconomic variables during and outside of the zero lower bound period in Japan. We find little difference in the output responses across the two periods. However, the responses of aggregate consumption, investment, and imports are significantly different in the two periods within the first few quarters.

JEL-codes: E21 E22 E23 E43 F14 H20 (search for similar items in EconPapers)
Date: 2018
Note: DOI: 10.1257/pandp.20181060
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Citations: View citations in EconPapers (10)

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