This data set contains supplementary materials for "Mind(d)ing the President: A text analytic approach to measuring tax news". It consists of the estimation results of the topic model and the estimated tax news measures. Folder LDA contains data and code for replicating the topic modelling results and figures. Folder TaxNews contains data and code for replicating the econometric analysis and figures.


Text data (speeches) comes from the Public Papers of the Presidents - Tax liability changes and list of announcements - Romer, C. D. and D. H. Romer (2009b). Replication data for: The macroeconomic effects of tax changes: Estimates based on a new measure of fiscal shocks. Nashville, TN: American Economic Association [publisher], 2010. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor]. Unanticipated tax liability changes - Mertens, K. and M. O. Ravn (2014). A reconciliation of SVAR and narrative estimatesof tax multipliers.Journal of Monetary Economics 68, S1–S19. List of announcements and legislative lag dates - Yang, S.-C. S. (2007). A chronology of postwar US federal income tax policy. CAEPR Working Papers 2007-021, Center for Applied Economics and Policy Research, Indiana University. Implicit tax rate - Leeper, E. M., A. W. Richter, and T. B. Walker (2012). Quantitative effects of fiscal foresight. American Economic Journal: Economic Policy 4(2), 115–44. Macroeconomic data - U.S. Bureau of Economic Analysis; U.S. Bureau of Labour Statistics; Federal Reserve Bank of Dallas; Federal Reserve Board; Robert Shiller (see Table C.1).
Date made available12 Apr 2021
Date of data production12 Apr 2021


  • news
  • fiscal foresight
  • tax shocks
  • identification
  • text mining
  • topic model
  • Latent Dirichlet Allocation

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