Research on capital formation has long been a major focus of studies sponsored by the National Bureau of Economic Research because of the crucial role of capital accumulation in the process of economic growth. The papers in this volume examine the influence of taxes on capital formation, with...

A model of corporate financial policy (debt-equity ratios and dividend payout rates) is included in the Harberger general equilibrium model of incidence of the corporate income tax. Illustrative calculations of the distortions of financial policy and increases in risk premiums induced by the...

Imposition of a partial factor tax (the most common example of which is a corporation income tax) will impose an excess burden on society. That excess burden implies a reduction in consumers' real income above and beyond the tax transfer to the government. The incidence of the tax depends, in...

In this paper, I assess the 1986 Tax Reform Act relative to the tax system that might have evolved over the several years following 1986 had that particular tax reform not been enacted. Had tax reform not been enacted, I believe that the pattern of steady tax increases, particularly corporate...

This paper reports estimates of the distribution of income and tax Abstract incidence in Panama in 1969. The distribution estimates are based upon the 1969 manpower survey, social security, income tax and Canal Zone records, and detailed studies of nonemployment incomes in each major industry....