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Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform
Gourio, Francois - 2009
To study the long-run effect of dividend taxation on aggregate capital accumulation, we build a dynamic general equilibrium model in which there is a continuum of firms subject to idiosyncratic productivity shocks. We find that a dividend tax cut raises aggregate productivity by reducing the...
Persistent link: https://www.econbiz.de/10012463605
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Taxation, Corporate Financial Policy and the Cost of Capital
Auerbach, Alan J. - 1982
The cost of capital plays an important role in the allocation of resources among competing uses in a decentralized market system. The purpose of this paper is to organize and present what is known and what is hypothesized about the effects of taxation on the incentive to invest, via the cost of...
Persistent link: https://www.econbiz.de/10012478079
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Investment Tax Incentives, Prices, and the Supply of Capital Goods
Goolsbee, Austan - 1997
Using data on the prices of capital goods, this paper shows that much of the benefit of" investment tax incentives does … from a 10 percent investment tax credit" increases equipment prices 3.5-7.0 percent. This lasts several years and is …" investment subsidies. Capital goods workers' wages rise, too. Instrumental variables estimates" of the short-run supply …
Persistent link: https://www.econbiz.de/10012472622
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Taxation and Innovation in the 20th Century
Akcigit, Ufuk - 2018
This paper studies the effect of corporate and personal taxes on innovation in the United States over the twentieth century. We use three new datasets: a panel of the universe of inventors who patent since 1920; a dataset of the employment, location and patents of firms active in R&D since 1921; and a...
Persistent link: https://www.econbiz.de/10012480635
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Taxation
Kaplow, Louis - 2006
This Handbook entry presents a conceptual, normative overview of the subject of taxation. It emphasizes the relationships among the main functions of taxation -- notably, raising revenue, redistributing income, and correcting externalities -- and the mapping between these functions and various...
Persistent link: https://www.econbiz.de/10012466608
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Taxation and the Evolution of Aggregate Corporate Ownership Concentration
Desai, Mihir A. - 2005
Legal rules, politics and behavioral factors have all been emphasized as explanatory factors in analyses of the determinants of the concentration of corporate ownership and stock market participation. An extension of standard tax clientele arguments demonstrates that changes in the progressivity...
Persistent link: https://www.econbiz.de/10012467211
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Business Income and Business Taxation in the United States Since the 1950s
Clarke, Conor - 2016
In theory, the U.S. tax system aims to attribute and tax all business income to individuals. But the tax treatment of this income varies. Pass-through income is taxed when earned; capital-gains income is taxed when realized; dividends when distributed; other forms of business income may escape...
Persistent link: https://www.econbiz.de/10012455902
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Short-Term Tax Cuts, Long-Term Stimulus
Cloyne, James; Martinez, Joseba; Mumtaz, Haroon; … - National Bureau of Economic Research - 2022
effects between five and eight years. R&D spending and capital investment display hump-shaped responses while hours worked and …
Persistent link: https://www.econbiz.de/10013334463
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The Importance of Measurement Error in the Cost of Capital
Goolsbee, Austan - 2000
Conventional estimates of the impact of taxes on investment may be seriously biased by measurement error in the cost of … significantly affect both prices and investment and that conventional results may be off by as much as a factor of four …
Persistent link: https://www.econbiz.de/10012471217
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What Gets Measured Gets Managed : Investment and the Cost of Capital
He, Zhiguo; Liao, Guanmin; Wang, Baolian - National Bureau of Economic Research - 2022
-specific costs of capital. We show that SOEs did respond to the performance evaluation reform by altering their investment decisions … evidence that incentive schemes affect real investment and sheds new light on challenges faced by economic reforms in China …
Persistent link: https://www.econbiz.de/10012938744