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Dividend Taxation and Intertemporal Tax Arbitrage

Korinek, Anton; Stiglitz, Joseph E. - National Bureau of Economic Research (NBER) - 2008

with the traditional view of dividend taxation, new firms raise less equity and invest less the higher the level of … dividend taxes. However, as postulated by the new view of dividend taxation, the dividend tax rate is irrelevant for the … categories, the level of dividend taxation as well as unanticipated changes in tax rates have only small effects on aggregate …

Persistent link: https://www.econbiz.de/10005084736

Capital Tax Reform and the Real Economy: The Effects of the 2003 Dividend Tax Cut

Yagan, Danny - National Bureau of Economic Research (NBER) - 2015

Policymakers frequently propose to use capital tax reform to stimulate investment and increase labor earnings. This paper tests for such real impacts of the 2003 dividend tax cut—one of the largest reforms ever to a U.S. capital tax rate—using a quasi-experimental design and a large sample...

Persistent link: https://www.econbiz.de/10011196771

Investment, Accounting, and the Salience of the Corporate Income Tax

Edgerton, Jesse - National Bureau of Economic Research (NBER) - 2012

This paper develops and tests the hypothesis that accounting rules mitigate the effect of tax policy on firm investment decisions by obscuring the timing of tax payments. I model a firm that maximizes a discounted weighted average of after-tax cash flows and accounting profits. I estimate the...

Persistent link: https://www.econbiz.de/10010969285

The R&D Tax Credit in France: Assessment and Ex-Ante Evaluation of the 2008 Reform

MULKAY, Benoît; MAIRESSE, Jacques - National Bureau of Economic Research (NBER) - 2013

This article presents an econometric analysis of the direct effects of the R&D tax credit (RTC) on private R&D in France and proposes an ex ante evaluation of the major reform implemented in 2008. We first estimate an error correction model of a dynamic R&D demand function on a large panel data...

Persistent link: https://www.econbiz.de/10010969339

Wait-and-See: Investment Options under Policy Uncertainty

Stokey, Nancy L. - National Bureau of Economic Research (NBER) - 2013

This paper develops a model of investment decisions in which uncertainty about a one-time change in tax policy induces the firm to temporarily stop investing--to adopt a wait-and-see policy. After the uncertainty is resolved, the firm exploits the tabled projects, generating a temporary...

Persistent link: https://www.econbiz.de/10010951243

Transfer Pricing by U.S.-Based Multinational Firms

Jensen, J. Bradford; Schott, Peter K.; Bernard, Andrew B. - National Bureau of Economic Research (NBER) - 2006

This paper examines how prices set by multinational firms vary across arm's-length and related-party customers. Comparing prices within firms, products, destination countries, modes of transport and month, we find that the prices U.S. exporters set for their arm's-length customers are...

Persistent link: https://www.econbiz.de/10005248790

Trade and Growth with Heterogenous Firms

robert-nicoud, frédéric; Baldwin, Richard E. - National Bureau of Economic Research (NBER) - 2006

This paper explores the impact of trade on growth when firms are heterogeneous. We find that greater openness produces anti-and pro-growth effects. The Melitz-model selection effects raises the expected cost of introducing a new variety and this tends to slow the rate of new-variety introduction...

Persistent link: https://www.econbiz.de/10005084569

Taxes and the Global Allocation of Capital

Backus, David; Henriksen, Espen; Storesletten, Kjetil - National Bureau of Economic Research (NBER) - 2007

Despite enormous growth in international capital flows, capital-output ratios continue to exhibit substantial heterogeneity across countries. We explore the possibility that taxes, particularly corporate taxes, are a significant source of this heterogeneity. The evidence is mixed. Tax rates...

Persistent link: https://www.econbiz.de/10005084808

Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform

Gourio, Francois; Miao, Jianjun - National Bureau of Economic Research (NBER) - 2009

To study the long-run effect of dividend taxation on aggregate capital accumulation, we build a dynamic general …

Persistent link: https://www.econbiz.de/10005025642

Behind the GATE Experiment: Evidence on Effects of and Rationales for Subsidized Entrepreneurship Training

Fairlie, Robert W.; Karlan, Dean; Zinman, Jonathan - National Bureau of Economic Research (NBER) - 2012

Various theories of market failures and targeting motivate the promotion of entrepreneurship training programs throughout the world. Using data from the largest randomized control trial ever conducted on entrepreneurship training, we examine the validity of such motivations and find that...

Persistent link: https://www.econbiz.de/10009652871

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