Comparing the effects of discretionary tax changes between the US and the UK

Hussain Syed M. and Liu Lin ()
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Hussain Syed M.: Department of Economics, Lahore University of Management Sciences, Lahore, Pakistan
Liu Lin: Management School, University of Liverpool, Liverpool, UK
Authors registered in the RePEc Author Service: Syed Muhammad Hussain and syed Murtaza hussain, Sr.

The B.E. Journal of Macroeconomics, 2018, vol. 18, issue 1, 17

Abstract: The remarkable similarities of the effects of discretionary tax changes between the US and the UK, shown in (Cloyne, J. 2013. “Discretionary Tax Changes and the Macroeconomy: New Narrative Evidence from the United Kingdom. American Economic Review 103: 1507–1528.), raise the obvious concern whether the effects of tax changes at disaggregated levels in the UK still resemble those in the US. This paper investigates the issue along three dimensions – corporate and personal income tax changes, anticipated and unanticipated tax changes, and positive and negative tax changes. An important contribution of this paper is to construct a data set on exogenous changes of corporate and personal income taxes in the UK, identified from narrative sources along the lines of Cloyne (2013).

Keywords: discretionary tax changes; narrative accounts; UK; US (search for similar items in EconPapers)
JEL-codes: E23 E62 H2 H3 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (12)

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DOI: 10.1515/bejm-2016-0041

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