In a recent article in this Journal, Robin Boadway has argued that the appropriate requirement for neutrality is that the present value of the returns from an initial investment of [1pound], using the social discount rate, should be equal for all projects undertaken at the margin. We have few...

Research on capital formation has long been a major focus of studies sponsored by the National Bureau of Economic Research because of the crucial role of capital accumulation in the process of economic growth. The papers in this volume examine the influence of taxes on capital formation, with...

In a recent article in this Journal, Robin Boadway has argued that the appropriate requirement for neutrality is that the present value of the returns from an initial investment of [1pound], using the social discount rate, should be equal for all projects undertaken at the margin. We have few...

In 1990, the government of Sweden introduced a major tax reform to take effect in 1991. The Swedish system prior to the legislation was so complex that the size and magnitude of the likely effects of the reform on incentives to invest were unknown. In this paper, we draw on Södersten (1989) and...

In 1990, the government of Sweden introduced a major tax reform to take effect in 1991. The Swedish system prior to the legislation was so complex that the size and magnitude of the likely effects of the reform on incentives to invest were unknown. In this paper, we draw on Södersten (1989) and...