The Effects of Tax Shocks on Output: Not So Large, But Not Small Either
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https://www.nber.org/papers/w16786
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In a seminal contribution, Romer and Romer (2010) (RR henceforth) estimate GDP tax multipliers of up to -3 after 3 years. These results have been criticized as implausibly large. For instance, Favero and Giavazzi (2010) (FG henceforth) argue RR's specification cannot be interpreted as a proper
提供机构：
美国国家经济研究局
创建时间：
2011-02-01
