Tax Policy and Business Investment in the United States: Evidence from the 1980s
The behavior of business fixed investment in the United States in the 1980s is examined. A background discussion of the long-term behavior of the components of business fixed investment is provided, setting the context for the empirical analysis. A standard neoclassical model of business fixed investment is specified and estimated, with output and the cost of capital the primary explanatory variables. Simulation experiments are then conducted with a view to assessing the importance of various contributing factors--in particular tax policy--in influencing the behavior of business fixed investment during the economic expansion that began in late 1982.
Year of publication: |
1989
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Authors: | Corker, Robert ; Evans, Owen ; Kenward, Lloyd |
Published in: |
IMF Staff Papers. - Palgrave Macmillan, ISSN 1020-7635. - Vol. 36.1989, 1, p. 31-62
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Publisher: |
Palgrave Macmillan |
Saved in:
Online Resource
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