Austerity and distributional policy
成果类型：
Article
署名作者：
Alpino, Matteo; Asatryan, Zareh; Blesse, Sebastian; Wehrhoefer, Nils
署名单位：
European Central Bank; Bank of Italy; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); Deutsche Bundesbank
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/j.jmoneco.2022.07.006
发表日期：
2022
页码：
112-127
关键词：
摘要：
How does fiscal austerity affect redistributive policies? We document that during austerity episodes, countries tend to increase marginal income tax rates on top earners, but not on average earners. We then show that, in response to an exogenously imposed fiscal rule, Italian municipalities increase local non-linear income taxes progressively. They do not ad-just other fiscal policies. College-educated mayors are more likely than less educated mayors to implement progressive reforms, and they perform better in the upcoming election. Survey evidence suggests that the differential policy response can be explained by college -educated mayors being more informed about the available policy options.(C) 2022 The Authors. Published by Elsevier B.V.
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