Replication data for: Discretionary Tax Changes and the Macroeconomy: New Narrative Evidence from the United Kingdom

Principal Investigator(s): View help for Principal Investigator(s) James Cloyne

Name	File Type	Size	Last Modified
20111351_data			10/11/2019 06:46:PM
LICENSE.txt	text/plain	14.6 KB	10/11/2019 02:46:PM

Project Citation:

Cloyne, James. Replication data for: Discretionary Tax Changes and the Macroeconomy: New Narrative Evidence from the United Kingdom. Nashville, TN: American Economic Association [publisher], 2013. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112651V1

Project Description

Summary: This paper provides new estimates of the macroeconomic effects of tax changes using a new narrative dataset for the United Kingdom. Identification is achieved by isolating â€œexogenousâ€ tax policy changes using the Romer and Romer narrative strategy. I find that a 1 percent cut in taxes increases GDP by 0.6 percent on impact and 2.5 percent over three years. The findings are remarkably similar to Romer and Romer narrative estimates for the United States, reinforcing the view that tax changes have powerful and persistent effects. â€œExogenousâ€ tax changes are also shown to have contributed to important episodes in the UK business cycle.

Scope of Project

JEL Classification:
      E23 Macroeconomics: Production
      E32 Business Fluctuations; Cycles
      E62 Fiscal Policy
      H20 Taxation, Subsidies, and Revenue: General
      H61 National Budget; Budget Systems

Related Publications

Download this project

Published Versions

V1 [2019-10-11]

Export Metadata

Dublin Core

DDI 2.5

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as received from the data depositor. As of April 2026, depositors are required to submit study materials in accessible formats. ICPSR has not reviewed, checked, or processed this material. For additional information about the study, please contact the investigator(s) directly. If you have questions about the accessibility of materials distributed by ICPSR or require further assistance, please visit ICPSR's Accessibility Center.