TAX POLICY AND BUSINESS FIXED INVESTMENT IN THE UNITED-STATES
成果类型：
Article; Proceedings Paper
署名作者：
AUERBACH, AJ; HASSETT, K
署名单位：
Columbia University
刊物名称：
JOURNAL OF PUBLIC ECONOMICS
ISSN/ISSBN：
0047-2727
DOI：
10.1016/0047-2727(92)90046-I
发表日期：
1992
页码：
141-170
关键词：
摘要：
This paper derives and estimates models of nonresidential investment behavior in which current and future tax conditions directly affect the incentive to invest. The estimates suggest that taxes have played an independent role in affecting postwar U.S. investment behavior, particularly for investment in machinery and equipment. In addition, the paper develops a method for assessing the impact of tax policy on the volatility of investment when such policy is endogenous. Illustrative calculations using this technique, based on the paper's empirical estimates, suggest that tax policy has not served to stabilize investment in equipment or nonresidential structures during the sample period.
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