Díaz-Giménez, Javier; Pijoan-Mas, Josep - C.E.P.R. Discussion Papers - 2011
In this article we quantify the aggregate, distributional and welfare consequences of investment expensing and progressivity in flat-tax reforms of the United States economy. We find that investment expensing as in the Hall and Rabushka type of reform brings about sizable output gains and a...