AEA Papers and Proceedings
ISSN 2574-0768 (Print) | ISSN 2574-0776 (Online)
The Effects of Tax Changes at the Zero Lower Bound: Evidence from Japan
AEA Papers and Proceedings
vol. 108,
May 2018
(pp. 513–18)
Abstract
We use the narrative approach to identify tax changes unrelated to current economic conditions and estimate the effects of these changes on macroeconomic variables during and outside of the zero lower bound period in Japan. We find little difference in the output responses across the two periods. However, the responses of aggregate consumption, investment, and imports are significantly different in the two periods within the first few quarters.Citation
Kato, Akihisa, Wataru Miyamoto, Thuy Lan Nguyen, and Dmitriy Sergeyev. 2018. "The Effects of Tax Changes at the Zero Lower Bound: Evidence from Japan." AEA Papers and Proceedings, 108: 513–18. DOI: 10.1257/pandp.20181060Additional Materials
JEL Classification
- E21 Macroeconomics: Consumption; Saving; Wealth
- E22 Investment; Capital; Intangible Capital; Capacity
- E23 Macroeconomics: Production
- E43 Interest Rates: Determination, Term Structure, and Effects
- F14 Empirical Studies of Trade
- H20 Taxation, Subsidies, and Revenue: General