Fiscal foresight and information flows /

News - or foresight - about future economic fundamentals can create rational expectations equilibria with non-fundamental representations that pose substantial challenges to econometric efforts to recover the structural shocks to which economic agents react. Using tax policies as a leading example o...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Leeper, Eric Michael (Autor), Walker, Todd B. (Todd Bruce) (Autor), Yang, Shu-Chun Susan, 1971- (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2012.
Colección:IMF working paper ; WP/12/153.
Temas:
Taxation.
Fiscal policy.
Economic forecasting.
Information theory in economics.
Impôt.
Politique fiscale.
Prévision économique.
Théorie de l'information en économie politique.
taxing.
Economic forecasting
Fiscal policy
Information theory in economics
Taxation
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover; Contents; I. Introduction; II. Analytical Example; A. The Econometrics of Foresight; B. Generalizations; III. Quantitative Importance of Foresight; A. Modeling Information Flows; B. Model Descriptions; C. Information Flows and Estimation Bias; IV. Solving the Problem; A. An Organizing Principle; B. Lines of Attack; 1. The Narrative Approach; 2. Conditioning on Asset Prices; 3. Direct Estimation of DSGE Model; V. Concluding Remarks; References; Tables; 1. Information Flow Processes; 2. Output Multipliers for a Labor Tax Change; Figures; 1. Responses of Capital to Tax Increase.
  • AppendicesI. Simulations Details; II. Testing Economic Theory; III. Municipal Bonds and Fiscal Foresight: Additional Results; IV. Assessing the Ex-Ante Approach.

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