000 02671nam  2200385zi 4500
0019.903154
003CaOODSP
00520221107180150
006m     o  d f      
007cr mn|||||||||
008210908t20212021onca    ob   f000 0 eng d
040 |aCaOODSP|beng|erda|cCaOODSP
043 |an-us---
0861 |aFB3-5/2021-41E-PDF
1001 |aHanson, Madeline, |eauthor.
24510|aFiscal spillovers : |bthe case of US corporate and personal income taxes / |cby Madeline Hanson, Daniela Hauser and Romanos Priftis.
264 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2021.
264 4|c©2021
300 |a1 online resource (ii, 58 pages) : |billustrations (some colour).
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aStaff working paper = |aDocument de travail du personnel, |x1701-9397 ; |v2021-41
500 |a"Last updated: August 20, 2021."
504 |aIncludes bibliographical references (pages 17-19).
5203 |a"This paper extends the identification of unanticipated changes in average federal corporate and personal income tax rates in the United States, as proposed in Mertens and Ravn (2013), to the end of 2019, and assesses their propagation to economies with tight links to the US economy. While cuts in both taxes lead to significant short-run expansions in the US economy, their spillover effects on other countries differ markedly. A cut in corporate taxes can produce negative spillovers, indicating that the contractionary effects associated to the reallocation of investment and jobs by multinational firms outweigh the potential positive effects of increased demand for country-specific goods through trade with the US. The spillover effects of lower personal income taxes are more heterogeneous across countries but are, on average, expansionary, depending on the country-specific monetary policy stance"--Abstract, page ii.
650 0|aFiscal policy|zUnited States|xEconometric models.
650 0|aCorporations|xTaxation|zUnited States|xEconometric models.
650 0|aIncome tax|zUnited States|xEconometric models.
650 6|aPolitique fiscale|zÉtats-Unis|xModèles économétriques.
650 6|aSociétés|xImpôts|zÉtats-Unis|xModèles économétriques.
650 6|aImpôt sur le revenu|xÉtats-Unis|xModèles économétriques.
7102 |aBank of Canada, |eissuing body.
830#0|aStaff working paper (Bank of Canada)|v2021-41.|w(CaOODSP)9.806221
85640|qPDF|s1.03 MB|uhttps://publications.gc.ca/collections/collection_2021/banque-bank-canada/FB3-5-2021-41-eng.pdf