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Is Debt Neutral in the Life Cycle Model?

Kotlikoff, Laurence J. - 2010

This paper questions the widely accepted view that deficits have real effects in the life cycle model. Standard analyses of deficits within life cycle models treat the government as a dictatorial entity that can effect any intergenerational redistribution it desires. In contrast, this paper...

Persistent link: https://www.econbiz.de/10012760317

The Effects of Income and Wealth on Time and Money Transfers between Parents and Children

Altonji, Joseph G.; Hayashi, Fumio; Kotlikoff, Laurence J. - 2021

We use the 1988 PSID to study the effects of income and wealth on transfers of money and time between individuals and … transfers are only weakly related to income differences. Richer siblings give more to parents and receive less. Among parents … in the cross section or in the analysis using siblings that parental income or wealth raises time transfers from children …

Persistent link: https://www.econbiz.de/10013217207

Estimating Adjustment Costs with Data on Heterogeneous Capital Goods

Goolsbee, Austan - 2008

This paper estimates the micro-level costs of adjusting capital using detailed data onquot; investment decisions in the US airline industry. The data include the capital stock retirement, market values, operating costs, and utilization rates of 16 different types of capitalquot; goods for each...

Persistent link: https://www.econbiz.de/10012774916

Investment Tax Incentives, Prices, and the Supply of Capital Goods

Goolsbee, Austan - 2008

Using data on the prices of capital goods, this paper shows that much of the benefit ofquot; investment tax incentives does not go to investing firms but rather to capital suppliers throughquot; higher prices. The reduction in the cost of capital from a 10 percent investment tax creditquot;...

Persistent link: https://www.econbiz.de/10012774928

The Importance of Measurement Error in the Cost of Capital

Goolsbee, Austan - 2021

Conventional estimates of the impact of taxes on investment may be seriously biased by measurement error in the cost of capital. The existence and size of such error, however, has not been documented. Using panel data on different types of capital equipment, this paper provides direct evidence...

Persistent link: https://www.econbiz.de/10013245307

What Does the Corporate Income Tax Tax? A Simple Model Without Capital

Kotlikoff, Laurence J. - 2010

The economics workings of the corporate income tax remain controversial. Harberger's seminal 1962 article viewed the … triggers the firm's classification as a corporation subject to income taxation. But going public has an upside. It permits …

Persistent link: https://www.econbiz.de/10013140993

Simulating the Elimination of the U.S. Corporate Income Tax

Fehr, Hans - 2013

income tax produces rapid and dramatic increases in the model's level of U.S. investment, output, and real wages, making the …

Persistent link: https://www.econbiz.de/10013071508

Taxes, Organizational Form, and the Deadweight Loss of the Corporate Income Tax

Goolsbee, Austan - 2008

the non-corporate share of capital .002-.03. The implied deadweight loss of the corporate income tax is around 5-10% of …

Persistent link: https://www.econbiz.de/10012774931

The Incidence and Efficiency Costs of Corporate Taxation When Corporate and Noncorporate Firms Produce the Same Good

Gravelle, Jane - 2010

This year marks the twenty-fifth anniversary of Arnold Harberger's celebrated model of the corporation income tax … understanding the incidence and excess burden of the corporate income tax remains in question. One difficulty confronting all …

Persistent link: https://www.econbiz.de/10012760229

Corporate Taxation and the Efficiency Gains of the 1986 Tax Reform Act

Gravelle, Jane - 2010

The 1986 Tax Reform Act, while having little effect on the overall effective tax rate on U.S. capital income, did … redistribution of income associated with the Tax Reform. We find that the 1986 Tax Reform law reduces excess burden by .85 percent of …

Persistent link: https://www.econbiz.de/10012762732