“...This paper argues in favor of empirical models built by including in fiscal VAR models structural shocks identified via the narrative method. We first show...”

“...I argue that, on theoretical grounds, the discretionary component of taxation should be allowed to have different effects than the automatic response of tax...”

“...The SVAR and narrative approaches to estimating tax multipliers deliver significantly different results. The former yields multipliers of about 1 and the...”

“...This paper studies the relationship between operational costs and state ownership in Indian railways between 1874 and 1912. We find the move to state ownership...”

“...Hospitals now represent one of the largest union sectors of the US economy, and there is particular concern about the impact of strikes on patient welfare. We...”

“...Legislative and implementation lags imply that substantial time evolves between when news arrives about fiscal changes and when the changes actually take...”

“...A key issue in current research and policy is the size of fiscal multipliers when the economy is in recession. We provide three insights. First, using...”

“...This paper examines the effect of exogenous shocks to savings on world capital markets. Exogenous tax increases in the United States (from Romer and Romer...”

“...Substantial uncertainty exists regarding the causal effect of health insurance on the utilization of care. We exploit a sharp change in insurance coverage...”