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“…Using local projections, they show that the impact on real activity is larger during expansions. Bonam and Konietschke (2020) show that these results extend to a panel of nine countries including the United Kingdom. These studies ignore the possibility of a more gradual change in the effects of fiscal policies.…”
Section: The Time‐varying Impact Of Taxation Shocks In the United Sta...mentioning
confidence: 78%
“…Using local projections, they show that the impact on real activity is larger during expansions. Bonam and Konietschke (2020) show that these results extend to a panel of nine countries including the United Kingdom. These studies ignore the possibility of a more gradual change in the effects of fiscal policies.…”
Section: The Time‐varying Impact Of Taxation Shocks In the United Sta...mentioning
confidence: 78%
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