McGrattan, Ellen R. - Federal Reserve Bank of Minneapolis - 2010
others in the
business cycle literature, I use the tax rates on capital and labor estimated by Joines
(1981)—namely his MTRK1 … gt is per capita
government spending.
2.1. Standard Analysis of Capital Taxation
A standard practice in the business … cycle literature is to assume that taxes are levied on
capital and labor with excess revenues rebated to households. Capital …