| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 965506 | Journal of Macroeconomics | 2012 | 17 Pages |
Abstract
⺠We assess the response of fiscal policy to developments in asset markets in the US. ⺠We find evidence of a vigilant track of wealth developments by fiscal authorities. ⺠Fiscal policy adjusts in a nonlinear fashion to both wealth and price effects. ⺠Tax cuts offset the decline in wealth during periods of major financial distress.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Luca Agnello, VÃtor Castro, Ricardo M. Sousa,