Tax reforms and investment: A cross-country comparison

• 成果类型: Article; Proceedings Paper
• 署名作者: Cummins, JG; Hassett, KA; Hubbard, RG
• 署名单位: Federal Reserve System - USA; Columbia University; National Bureau of Economic Research
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/0047-2727(96)01580-0
• 发表日期: 1996
• 页码: 237-273
• 关键词: tax reform; INVESTMENT; q theory

摘要

We use firm-level panel data to explore the extent to which fixed investment responds to tax reforms in 14 OECD countries. Previous studies have often found that investment does not respond to changes in the marginal cost of investment. We identify some of the factors responsible for this finding, and employ an estimation procedure that sidesteps the most important of them. In so doing, we find evidence of statistically and economically significant investment responses to tax changes in 12 of the 14 countries.