Tax Policy (Vegh & Vuletin)

How is tax policy conducted over the business cycle? by Carlos A. Vegh and Guillermo Vuletin published by NBER (1/2012). “…We find that, by and large, tax policy is acyclical in industrial countries but mostly procyclical in developing countries. Further, tax policy in countries with better institutions and/or more integrated with world capital markets tends to be less procyclical/more countercyclical.”

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