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framework for analyzing tax effects on changes in capital stock. In particular I estimate a one-step error correction model (ECM …) complementing the usual estimation of a distributed lag model. A correction term accounts for non-random sample attrition, which has … incomplete. Both, ECM and distributed lag model, suggest that user cost of capital and output have an economically and …
Persistent link: https://www.econbiz.de/10003883175
framework for analyzing tax effects on changes in capital stock. In particular I estimate a one-step error correction model (ECM …) complementing the usual estimation of a distributed lag model. A correction term accounts for non-random sample attrition, which has … incomplete. Both, ECM and distributed lag model, suggest that user cost of capital and output have an economically and …
Persistent link: https://www.econbiz.de/10003948533
important, long-run estimates of key parameters are less biased - and the details of the econometrics matter. In particular … ; adjustment frictions ; cointegration and long-run econometrics …
Persistent link: https://www.econbiz.de/10009732579
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) and Kapetanios et al. (Journal of Econometrics, 2011), our empirical strategy allows for cross-sectionally correlated …
Persistent link: https://www.econbiz.de/10011584153
In this paper we provide short- and long-run tax buoyancy estimates for a panel of OECD countries. Our results indicate that total tax revenue estimates are not different from unity, corporate income tax buoyancies exceed unity both in the long- and the short-run, while personal income tax...
Persistent link: https://www.econbiz.de/10011816941
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