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dc.contributor.authorLoukoianova, Elenaen_GB
dc.contributor.authorVahey, Shaun P.en_GB
dc.contributor.authorWakerly, Elizabeth C.en_GB
dc.date.accessioned2004-06-16T16:05:19Z
dc.date.available2004-06-16T16:05:19Z
dc.date.created2002-11en_GB
dc.date.issued2004-06-16T16:05:19Z
dc.identifier.urihttp://www.dspace.cam.ac.uk/handle/1810/331
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/331
dc.description.abstractIn this paper we consider the real-time implementation of a fiscal policy rule based on tax smoothing (Barro (1979) and Bohn (1998)). We show that the tax smoothing approach, augmented by fiscal habit considerations, provides a surprisingly accurate description of US budget surplus movements. In order to investigate the robustness of the policy implications of the rule, we construct a real-time US fiscal data set, complementing the data documented by Croushore and Stark (2001). For each variable we record the different vintages, reflecting the remeasurements that occur over time. We demonstrate that the easily constructed rule provided a useful benchmark for policy analysis that is robust to real-time remeasurements.en_GB
dc.format.extent640638 bytes
dc.format.mimetypeapplication/pdfen_GB
dc.format.mimetypeapplication/pdf
dc.language.isoen_GB
dc.publisherFaculty of Economics
dc.relation.ispartofseriesCambridge Working Papers in Economics
dc.rightsAll Rights Reserveden
dc.rights.urihttps://www.rioxx.net/licenses/all-rights-reserved/en
dc.subject.classificationClassification-JEL: C82, E62, E66en_GB
dc.subject.otherfiscal rules, tax smoothing, fiscal habits, real-time dataen_GB
dc.titleA Real Time Tax Smoothing Based Fiscal Policy Ruleen_GB
dc.typeWorking Paperen
dc.identifier.doi10.17863/CAM.5447


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