Revenue Smoothing in an ARIMA Framework: Evidence from the United States

Periklis Gogas and Apostolos Serletis

A chapter in New Trends in Macroeconomics, 2005, pp 79-88 from Springer

Abstract: Summary This paper tests Mankiw’s [9] revenue-smoothing hypothesis, that the inflation rate moves one-for-one with the marginal tax rate in the long run, using the new average marginal tax rate series constructed by Stephenson [16] and the long-horizon regression approach developed by Fisher and Seater [5]. It reports considerable evidence against revenuesmoothing.

Keywords: Optimal seigniorage; Integration; Long-run derivative (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-28556-4_5

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DOI: 10.1007/3-540-28556-3_5

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