Chaos, sunspots and automatic stabilizers

Article Abstract:

A study has been conducted to investigate that implications of a proposed real business cycle model environment for automatic stabilizer tax systems. An automatic stabilizer tax system has been considered to have the potential to stabilize certain fluctuations in an economy. This is due to the belief that undoing externality effects would promote an increase in tax rates which, in turn, would cause increased market activity. Efficient tax regimes are believed to move procyclically with sunspot checks, but would create little movement with technology shocks.

Tax Law, Public Finance Activities, Research, Economic aspects, Taxation, Business cycles

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Maximum likelihood in the frequency domain: the importance of time-to-plan

Article Abstract:

The use of various frequency-domain tools for estimating and testing dynamic stochastic general equilibrium models is presented. In business cycle analysis, the role of time-to-plan in investment technology is useful.

United States, Investment management

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