000			01264nam a22001577a 4500
999			_c517114 _d517114
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100			_aFerraro, Domenico and Fiori, Giuseppe _926132
245			_aThe Aging of the Baby Boomers: Demographics and Propagation of Tax Shocks
260			_aAmerican Economic Journal Macroeconomic
300			_a12(2), Apr, 2020: p.167-193
520			_aWe study how the changing demographic composition of the US labor force has affected the response of the unemployment rate to marginal tax rate shocks. Using narratively identified tax changes as proxies for structural shocks, we establish that the responsiveness of the unemployment rates to tax changes varies significantly across age groups: the unemployment rate response of the young is nearly twice as large as that of the old. This heterogeneity is the channel through which shifts in the age composition of the labor force impact the response of the unemployment rate to tax cuts. We find that the aging of the baby boomers considerably reduces the effects of tax cuts on aggregate unemployment. – Reproduced
650			_aPersonal Income, Taxes and Subsidies _926133
773			_aAmerican Economic Journal Macroeconomic
906			_aFISCAL POLICY
942			_cAR