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U.S. investment since the Tax Cuts and Jobs Act of 2017
Kopp, Emanuel; Leigh, Daniel; Mursula, Susanna; … - 2019
There is no consensus on how strongly the Tax Cuts and Jobs Act (TCJA) has stimulated U.S. private fixed investment …. Some argue that the business tax provisions spurred investment by cutting the cost of capital. Others see the TCJA … primarily as a windfall for shareholders. We find that U.S. business investment since 2017 has grown strongly compared to pre …
Persistent link: https://www.econbiz.de/10012022032
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The fiscal state-dependent effects of capital income tax cuts
Fotiou, Alexandra; Shen, Wenyi; Yang, Shu-Chun S. - 2020
Using the post-WWII data of U.S. federal corporate income tax changes, within a Smooth Transition VAR, this paper finds that the output effect of capital income tax cuts is government debt-dependent: it is less expansionary when debt is high than when it is low. To explore the mechanisms that...
Persistent link: https://www.econbiz.de/10012251390
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Do temporary business tax cuts matter? : a general equilibrium analysis
Gbohoui, William - 2019
. Second, it shows that in the presence of financing frictions which raise the cost of investment, the policy temporarily … relaxes the financing constraint thereby reducing the marginal cost of investment. This direct effect implies positive … reduces the expected marginal return on investment mitigating the direct stimulative effects …
Persistent link: https://www.econbiz.de/10012009276
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Are elasticities of taxable income rising?
Klemm, Alexander; Liu, Li; Mylonas, Victor; Wingender, … - 2018
This paper assesses a possible explanation for the global downward trend in top personal income tax rates over the last decades: globalization and the related tax evasion and avoidance opportunities could have raised elasticities of taxable income, which would imply lower optimal tax rates. The...
Persistent link: https://www.econbiz.de/10011878756
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Do Tax Rates Encourage Entrepreneurial Activity?
Gordon, Roger H. - 1997
When the top personal tax rates are above the corporate rate, high-income individuals have an incentive to reclassify their earnings as corporate rather than personal income for tax purposes. U.S. tax law at least imposes strict limits on the extent to which employees in publicly traded...
Persistent link: https://www.econbiz.de/10014400644
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Firm Investment, Corporate Finance, and Taxation
Palomba, Geremia - 2002
This paper examines the intertemporal effect of corporate income taxation on the investment behavior of a firm that … the corporate profit tax rate initially reduces investment, but the effect is reversed over time as the firm adjusts its …
Persistent link: https://www.econbiz.de/10014399717
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Optimal Tax/Expenditure Competition Strategy of Governments in the Presence of Time Inconsistency : The Case for Investment Tax Abacemencs
International Monetary Fund - 1990
Businesses which seek the location that offers the highest profitability are likely to consider tax incentives and the level of government services available. However, once a business commits itself to a locality, high moving costs render it vulnerable to future tax increases or denial of...
Persistent link: https://www.econbiz.de/10014396504
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Do Taxes Matter for Long-Run Growth? : Harberger's Superneutrality Conjecture
Asea, Patrick K. - 1995
Harberger’s superneutrality conjecture contends that, although in theory the mix of direct and indirect taxes affects … investment and growth, in practice growth effects of taxation are negligible. This paper provides evidence in support of this … highlights implications of different taxes for growth and investment in these models. The empirical work is based on cross …
Persistent link: https://www.econbiz.de/10014395798
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The Costs of Taxation and the Marginal Cost of Funds
Slemrod, Joel - 1995
It is argued that taxation causes three kinds of deadweight losses and two types of direct costs. The deadweight losses arise from substitution, evasion, and avoidance activities while the direct costs are administrative and compliance costs. Some of these social costs tend to be discontinuous...
Persistent link: https://www.econbiz.de/10014396048
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Taxation and Unemployment
Zee, Howell H. - 1996
This paper reviews conceptual linkages between taxation and unemployment, available empirical evidence and country policies that may have a bearing on these linkages in the OECD and in a sample of developing and transitional economies, Fund policy advice on these issues, and tax policy options...
Persistent link: https://www.econbiz.de/10014396074