There are two countries where the cumulative GDP response to a tax cut falls drastically
in S2 relative to S1: the US and the UK. These are also two countries where the
response of private consumption in S2 declines dramatically, and becomes both significantly
negative in S2 and significantly smaller than in S1. Of the other two countries
where the GDP response falls at 3 years between S1 and S2 (although insignificantly) -
Germany and Australia - the cumulative consumption response also declines in S2 in the
former, while it increases slightly in the latter.