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Persistent link: https://www.econbiz.de/10003364834
In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is true regardless of whether random tax changes are...
Persistent link: https://www.econbiz.de/10009781588
Persistent link: https://www.econbiz.de/10003495798
relation to Canada’s fiscal structure. By fiscal structure we mean three distinct but interrelated fiscal dimensions of the …
Persistent link: https://www.econbiz.de/10011899070
This paper explores how a principal with time-inconsistent preferences invests optimally in technology or capital. If the current principal prefers her future self to save more, she can increase current investments complementary to future savings and decrease investments in the strategic...
Persistent link: https://www.econbiz.de/10010223357
The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns since 2003 and the potential impact of industrial...
Persistent link: https://www.econbiz.de/10011657882
in wealth tax rates, estimating the causal effects of an unprecedented municipal wealth tax reform in Norway. We leverage … variation from the single-period municipal reform reducing the marginal tax rate (MTR) on wealth exclusively in the northern … weighted mass of wealth taxpayers in the treated municipality. Migration effects of the reform dominate: internal mobility of …
Persistent link: https://www.econbiz.de/10015065249
How does economic uncertainty affect the impact of tax policy? We exploit a natural experiment in which two very similar investment subsidies were implemented in the same country, two years apart: once during a period of economic stability, and once during a period of very high uncertainty....
Persistent link: https://www.econbiz.de/10012120240
The industrialization process of a country is often plagued by a failure to coordinate investment decisions. Using the Global Games approach we can solve this coordination problem and eliminate the problem of multiple equilibria. We show how appropriate information provision enhances efficiency....
Persistent link: https://www.econbiz.de/10003301107
In this paper, we use an exogenous variation in tax regulations to analyze the impact of bonus depreciation programs on business investment. To promote economic convergence of Eastern and Western Germany after reunification, bonus depreciation tax incentives were granted for investments in...
Persistent link: https://www.econbiz.de/10010354738