Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75580
Authors: 
Hansen, Claus Thustrup
Kleven, Henrik Jacobsen
Year of Publication: 
2000
Series/Report no.: 
CESifo Working Paper 399
Abstract: 
This paper analyses the effects of taxation in New Keynesian economics. The results show that taxes contribute to price and wage stickiness and, moreover, that the resulting fluctuations in welfare are magnified by the presence of taxes. These results are at odds with the old Keynesian idea of automatic stabilizers.
Subjects: 
New Keynesian economics
taxation
automatic stabilizers
JEL: 
E32
E62
Document Type: 
Working Paper

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