The revenue smoothing hypothesis in an ARIMA Framework: Evidence from the United States, in Claude Diebolt, Catherine Kyrtsou et al. (eds.), New Trends in Macroeconomics

This paper tests Mankiw’s (1987) revenue-smoothing hypothesis, that the inflation rate moves one-for-one with the marginal tax rate in the long run, using the new average marginal tax rate series constructed by Stephenson (1998) and the long-horizon regression approach developed by Fisher and Seater (1993). It reports considerable evidence against revenue-smoothing.

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Year of publication:	2005
Authors:	Gogas, Periklis ; Serletis, Apostolos
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Optimal seigniorage \| Integration \| Long-run derivative

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	C22 - Time-Series Models ; H21 - Efficiency; Optimal Taxation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011267851