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Federal Reserve Bank of Dallas
Working Papers
The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States: Reply to Jentsch and Lunsford
Karel Mertens
Morten O. Ravn
Abstract

In this reply to a comment by Jentsch and Lunsford, we show that, when focusing on the relevant impulse responses, the evidence for economic and statistically significant macroeconomic effects of tax changes in Mertens and Ravn (2013) remains present for a range of asymptotically valid inference methods.


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Karel Mertens & Morten O. Ravn, The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States: Reply to Jentsch and Lunsford, Federal Reserve Bank of Dallas, Working Papers 1805, 01 May 2018, revised 01 Feb 2019.
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Subject headings:
Keywords: Fiscal Policy; structural vector autoregressions; tax shocks
DOI: 10.24149/wp1805r1
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