The data set PCIT consists of quarterly observations for
the average personal income tax rates \(APITR\),
the average corporate income tax rates \(ACITR\),
the logarithm of the personal income tax base \(PITB\),
the logarithm of the corporate income tax base \(CITB\),
the logarithm of government spending \(GOV\),
the logarithm of GDP divided by population \(RGDP\), and
the logarithm of government debt held by the public divided by the GDP deflator and population \(DEBT\).
Moreover, the proxies for shocks to personal \(m\_PI\) and corporate \(m\_CI\) income taxes are prepended, where non-zero observations from the related narratively identified shock series \(T\_PI\) resp. \(T\_CI\) have been demeaned. The data set covers the period Q1 1950 to Q4 2006 \((T=228)\) for the US.
data("PCIT")A time series data set of class 'data.frame',
where the column id_t indicates the quarter of the year.
Mertens, K., and Ravn, M. O. (2013): "The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States", American Economic Review, 103, pp. 1212-1247.
Jentsch, C., and Lunsford, K. G. (2019): "The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States: Comment", American Economic Review, 109, pp. 2655-2678.
Mertens, K., and Ravn, M. O. (2019): "The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States: Reply", American Economic Review, 109, pp. 2679-2691.
Other data sets:
ERPT,
EURO,
EU_w,
ICAP,
MDEM,
MERM,
PCAP