The linkage between regional economic indexes and tax bases
Subtitle: evidence from New York
By: Jason Bram ... [et al.].
Contributors: Bram, Jason.; Federal Reserve Bank of New York.
Series: Staff reports ;; no. 188; Staff reports (Federal Reserve Bank of New York : Online) ;; no. 188.
Publisher: Federal Reserve Bank of New York
Published: 2004
Place of publication: [New York, N.Y.]
Language: eng
Format: Electronic resource
Subjects: Tax revenue estimating -- New York (State) -- Econometric models.; Tax revenue estimating -- New York -- New York -- Econometric models.; Economic indicators -- New York (State) -- Econometric models.; Economic indicators -- New York -- New York -- Econometric models.; New York (State) -- Economic conditions -- Econometric models.; New York (N.Y.) -- Economic conditions -- Econometric models.
Description: "This paper examines the linkage between economic activity and tax revenues for New York State and New York City.  Drawing upon the methodology of Stock and Watson, we use a dynamic single-factor model to estimate indexes of coincident economic indicators.  We also construct measures of the sales and withholding tax bases.  To conduct an empirical analysis of the relationship between the indexes of economic activity and the tax base series, we use vector autoregression and error correction models.  The results provide strong evidence that the coincident indexes contain useful information for explaining monthly growth in the tax bases.  However, much less evidence exists of a statistically significant linkage from the tax bases to the coincident indexes"--Federal Reserve Bank of New York web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 1/12/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.