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Output effects of a measure of tax shocks based on changes in legislation for Portugal

Lara Wemans and Manuel Pereira

Working Papers from Banco de Portugal, Economics and Research Department

Abstract: This paper develops a new measure of quarterly discretionary tax shocks for Portugal that result from changes in legislation, following the narrative approach. It covers the years from 1996 to 2012 and was based on a comprehensive analysis of tax policy measures taken in the course of this period. The …ndings point to strongly negative and persistent e¤ects of legislated tax increases on GDP and private consumption, matching the tendency of the narrative approach to yield comparatively high tax multipliers.

JEL-codes: E32 E43 E62 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-mac and nep-pbe
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Citations: View citations in EconPapers (6)

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Journal Article: Output Effects of a Measure of Tax Shocks Based on Changes in Legislation for Portugal (2015) Downloads
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