Measuring the Growth and Variability of Tax Bases over the Business Cycle
Shows that the standard method for estimating elasticity results in asymptotic bias and inconsistent standard errors. Uses time-series econometric techniques to provide unbiased estimates of the long-run growth potential (the long-run elasticity) and cyclical variability (the short-run elasticity) of all major tax bases.
Volume (Year): 49 (1996)
Issue (Month): 4 (December)
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