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Today is a big day.

Today is #NBERday

In factm double-#NBER-day, because I wasn't able to get to it last Monday.

Q: Do tax hikes impact economic growth?

A: Yes. They reduce it (in interwar Britain). #NBERday
The method here is fun. They went through every budget in interwar Britain (1918-1939), and categorized each tax by its motivation: ideological, countercyclical, etc. They argue some of these taxes are plausibly exogenous due to arbitrary political motivations. #NBERday
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