This paper comprehensively calculates corporate intangible assets by industry from 1998 to 2009, and evaluates the impact of expensing intangible assets on the cost of capital, the METR, and the welfare cost of inter-asset taxation, under current law and alternative tax policy including recent...

We use a CES production function with no restrictions on technical bias to derive relationships between the growth in relative factor shares and (i) the capital to labor ratio and (ii) the ratio of marginal products. These relationships constitute a parsimonious specification used to identify...

This paper is the first paper to break user cost into its natural pieces - the risk-adjusted market interest rate, tax variables, and the price of capital goods - and estimate the long-run effect of each on the capital stock.Why is the separation of user cost into interest rate, tax, and capital...

The main goal of this paper is to examine the implications of firm-oriented fiscal policies, such as capital subsidies and tax allowances, in an economy with an underground sector. In addition, we investigate whether the technology structure of quot;hiddenquot; production may facilitate or...

The effect of interest rates, capital goods prices, and taxes on the capital stock is an issue of central importance in economics, with implications for monetary policy, business cycle models, tax policy, economic development, growth, and other areas. For more than 30 years it has been difficult...