Backus, David; Henriksen, Espen; Storesletten, Kjetil - In: Journal of Monetary Economics 55 (2008) 1, pp. 48-61
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...
