; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Tax Disturbances and Real Economic Activity in the Postwar United States"; ; "batchuser@example.com"; "Braun, R. Anton"; "Federal Reserve Bank of Minneapolis"; "Corporate tax ", "Taxes", "Tax", "Tax rates", "Productivity", "Business cycle", "Income tax", "Taxation", "Real business cycle model"; "E32 - Business Fluctuations; Cycles", "H24 - Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes", "H25 - Business Taxes and Subsidies including sales and value-added (VAT)"; "This paper investigates the macroeconomic effects of cyclical fluctuations in marginal tax rates. It finds that systematically including tax variables in a standard real business cycle model substantially improves the model's ability to reproduce basic facts about postwar U.S. business cycle fluctuations. In particular, modeling fluctuations in personal and corporate income tax rates increases the model's predicted relative variability of hours and decreases its predicted correlation between hours and average productivity. Fluctuations in tax rates produce large substitution effects that alter the leisure/labor supply decision."^^; "1992-11"; "2018-03-13T20:08:26.57318579+00:00"^^; "https://doi.org/10.21034/wp.506"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2019-08-30T15:19:56.035531328+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "97"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "506"; "Tax", "Real business cycle model", "Corporate tax ", "Income tax", "Business cycle", "Productivity", "Taxation", "Tax rates", "Taxes"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; ; "Publication" . ; .