The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States
区分了美国个人所得税和企业所得税的变化，利用叙事法识别税收冲击，发现税收冲击对产出的短期影响很大，且不同税种对劳动市场和支出成分的影响不同。
This paper estimates the dynamic effects of changes in taxes in the United States. We distinguish between changes in personal and corporate income taxes and develop a new narrative account of federal tax liability changes in these two tax components. We develop an estimator which uses narratively identified tax changes as proxies for structural tax shocks and apply it to quarterly post-WWII data. We find that short run output effects of tax shocks are large and that it is important to distinguish between different types of taxes when considering their impact on the labor market and on expenditure components.