NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
loading...

Full-Text Web Search Results for 'incidence of corporate income tax'


  Note: You may get better results by enclosing a phrase in quotes, like "business cycle".
Refine your search:
Search what kinds of research output:
Filter by date:

Displaying 20 - 40 of 47000 results. More results.

  • 97% Quantitative Research In Taxation And Government Expenditure 1972
    Carl S. Shoup
    in Economic Research: Retrospect and Prospect, Volume 4, Public Expenditures and Taxation, Carl S. Shoup

    ...studies of facts and figures formulated empirical statements in the sense of refut- able hypotheses subject to testing by appeal to the facts. Rather, the facts have been used to suggest hypotheses that have not generally been tested by appeal to another set of data.1 The present survey excludes all mere compilations of quantitative descriptions, however essential they may be, if they are not...

    /chapters/c4285

  • 97% Tax Exporting and the Commerce Clause: Reflections on Commonwealth Edison September 1981
    Charles E. McLure, Jr.

    This paper appraises the conflicting contentions found in the majority and dissenting opinions in Commonwealth Edison Co. et al. v. Montana et al. about the feasibility of basing findings of constitutionality under the Interstate Commerce Clause on the results of incidence analysis. Severance taxes, property taxes, corporate income taxes levied by both producing and consuming states, and gross receipts taxes levied by consuming states in conjunction with price controls are considered. Factors affecting tax exporting by producing states include the degree of geographic concentration of natural resources, cartelization by producing states, the mobility of various resources, international competition, natural substitutability, government regulations, the prevalence of long-term contracts, and transportation costs. The analysis of tax exporting is sufficiently complicated that attempting to base constitutionality on estimates of tax exporting is fraught with danger, especially in times of rapid economic and institutional change, in part because it is so difficult to know when the tax exporting question is being asked properly.

    ...of incidence analysis. Severance taxes, property taxes, corporate income taxes levied by both producing and consuming states, and gross receipts taxes levied by consuming states in conjunction with price controls are considered. Factors affecting tax exporting by producing states include the degree of geographic concentration of natural resources, cartelization by producing states, the mobility of...

    /papers/w0746

  • 97% A Comparison of Methodologies in Empirical General Equilibrium Models of Taxation June 1982
    Don Fullerton, Yolanda K. Henderson, John B. Shoven

    Computational general equilibrium models have proven useful in the area of long run analysis of alternative tax policies. A sizable number of studies have been completed which examine policies such as a value-added tax, corporate and personal income tax integration, a consumption or expenditure tax, housing subsidies, and inflation indexation.. This paper reviews the methodologies used in these models. We focus on eight specific models and review in turn: levels of disaggregation, specification of the foreign sector, financial modeling, the measurement of effective tax rates, heterogeneity and imperfect mobility, factor supply, treatment of the government budget, and technical issues associated with implementation. The paper includes some new experiments in connection with simulations of integration of the personal and corporate income tax systems in the United States. We compare the resulting welfare gains in models with different levels of disaggregation, and we discuss alternative justifications for specific disaggregations. We also examine the sensitivity of results to alternative specifications of households' endowments of labor and leisure. Our survey underscores the importance of the assumed elasticities of labor supply with respect to the net of tax wage, and of saving with respect to the net of tax rate of return. Unfortunately, these are also parameters for which there is not a consensus in the economics profession. The survey finds that there are several aspects of modeling that are especially ripe for further progress: the roles of government and business financial decisions, the dynamics of a life-cycle approach, and the measurement of incentive tax and transfer rates.

    ...OF METHODOLOGIES IN EMPIRICAL GENERAL EQUILIBRIUM MODELS OF TAXATION Don Fullerton Yolanda K. Henderson John B. Shoven Working Paper No. 911 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge MA 02138 June 1982 Paper presented at the NBER Conference on Applied General Equilibrium Models, San Diego, California, August 2lt-28, 1981. The papers from this conference will...

    /papers/w0911

  • 97% Taxation and the Size and Composition of the Capital Stock: An Asset Price Approach September 1985
    Lawrence H. Summers

    This paper develops an asset price approach to the analysis of capital taxation. The costs of adjusting capital stocks cause tax changes to have important impacts on the valuation of existing capital. The recapitalizations associated with tax reforms represent an important aspect of their incidence. These effects are studied within the context of an empirically calibrated general equilibrium model. The model extends previous work by explicitly treating the process of adjustment following tax reforms, treating in detail the relationship between tax rules and interest rates and examining the differential incidence effects of corporate tax reductions and investment incentives.

    ...of their incidence. These effects are studied within the context of an empirically calibrated general equilibrium model. The model extends previous work by explicitly treating the process of adjustment following tax reforms, treating in detail the relationship between tax rules and interest rates and examining the differential incidence effects of corporate tax reductions and investment incentives.

    /papers/w1709

  • 97% Imputing Corporate Tax Liabilities to Individual Taxpayers August 1987
    Martin Feldstein

    This paper presents a method of studying the distributional consequences of corporate tax changes by imputing to individual tax returns the net effect of changes in effective corporate tax rates. Particular attention is given to the difference between nominal and real capital income, to the problem of corporate pension funds, and to the automatic effect of corporate tax changes on dividends and retained earnings. Application of this imputation method to the tax changes enacted in 1986 shows that the actual distribution of the total tax change was very different from the traditional distribution of only the personal income tax change. The net imputed corporate tax increase was equivalent to a rise of 6 percentage points in the personal income tax among taxpayers with 1988 incomes over $200,000 and 4 percentage points among taxpayers with incomes between $100,000 and $200,000. The corporate income tax increase also added the equivalent of an 8 percent rise in the income tax for taxpayers with incomes between $10,000 and $20,000. By contrast, for middle income taxpayers (with incomes between $30,000 and $75,000) the corporate tax increase was equivalent to an income tax rise of only 1 or 2 percent. The analysis shows that the higher corporate tax represents a particularly large increase for taxpayers over the age of 65; on average, tax returns with at least one taxpayer over age 65 will pay 12 percent more tax under the 1986 tax legislation than they would otherwise have paid. Distributional considerations will continue to play a large role in the public and Congressional discussions of future tax reforms. The present study shows that it is very important to include the distributional consequences of corporate as well as personal tax changes in the analysis of any proposed tax reforms.

    ...corporate income tax increase also added the equivalent of an 8 percent rise in the income tax for taxpayers with incomes between $10,000 and $20,000. By contrast, for middle income taxpayers (with incomes between $30,000 and $75,000) the corporate tax increase was equivalent to an income tax rise of only 1 or 2 percent. The analysis shows that the higher corporate tax represents a particularly...

    /papers/w2349

  • 97% Capital Taxation April 1982
    Martin Feldstein

    This paper is an introductory chapter to a book that brings together 22 of my papers written between 1965 and 1981. The chapter provides a summary of each paper and a more general discussion of the role of taxation in influencing the process of capita1 accumulation. The four sections of the book are: (1) Household and Corporate Saving; (2) Portfolio Behavior; (3) Business Investment and (4) Tax Incidence in a Growing Economy.

    ...22 of my papers written between 1965 and 1981. The chapter provides a summary of each paper and a more general discussion of the role of taxation in influencing the process of capital accumulation. The four sections of the book are: (1 ) Household and Corporate Saving; (2) Portfolio Behavior; (3) Business Investment and (4) Tax Incidence in a Growing Economy. Martin Feldstein National Bureau of...

    /papers/w0877

  • 96% Who Bears the Economic Costs of Environmental Regulations? August 2017
    Don Fullerton, Erich Muehlegger

    Public economics has a well-developed literature on tax incidence – the ultimate burdens from tax policy. This literature is used here to describe not only the distributional effects of environmental taxes or subsidies but also the likely incidence of non-tax regulations, energy efficiency standards, or other environmental mandates. Recent papers find that mandates can be more regressive than carbon taxes. We also describe how the distributional effects of such policies can be altered by various market conditions such as limited factor mobility, trade exposure, evasion, corruption, or imperfect competition. Finally, we review data on carbon-intensity of production and exports around the world in order to describe implications for effects of possible carbon taxation on countries with different levels of income per capita.

    ...of Environmental Policy.” The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.¸˛ NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2017 by Don...

    /papers/w23677

  • 96% Domestic Savings and International Capital Flows 1979
    Martin Feldstein, Charles Horioka

    How internationally mobile is the world's supply of capital? Does capital flow among industrial countries to equalize the yield to investors? Alternatively, does the saving that originates in a country remain 'to be invested there? Or does the truth lie somewhere between these two extremes? The answers to these questions are not only important for understanding the international capital market but are also critical for analyzing a wide range of issues including the nation's optimal rate of saving and the incidence of tax changes.

    ...of international capital mobility. With perfect world capital mobility, there would be little or no relation between the amount of saving generated in a country and the domestic investment in that country. In contrast, if portfolio preferences and institutional rigidities impede the flow of long-term capital among countries, increases in domestic saving would be reflected primarily in additional...

    /papers/w0310

  • 96% Corporate Taxes and Union Wages in the United States August 2009
    R. Alison Felix, James R. Hines, Jr.

    This paper evaluates the effect of U.S. state corporate income taxes on union wages. American workers who belong to unions are paid more than their non-union counterparts, and this difference is greater in low-tax locations, reflecting that unions and employers share tax savings associated with low tax rates. In 2000 the difference between average union and non-union hourly wages was $1.88 greater in states with corporate tax rates below four percent than in states with tax rates of nine percent and above. Controlling for observable worker characteristics, a one percent lower state tax rate is associated with a 0.36 percent higher union wage premium, suggesting that workers in a fully unionized firm capture roughly 54 percent of the benefits of low tax rates.

    CORPORATE TAXES AND UNION WAGES IN THE UNITED STATES R. Alison Felix James R. Hines, Jr. WORKING PAPER 15263 NBER WORKING PAPER SERIES CORPORATE TAXES AND UNION WAGES IN THE UNITED STATES R. Alison Felix James R. Hines, Jr. Working Paper 15263 http://www.nber.org/papers/w15263 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 August 2009...

    /papers/w15263

  • 96% Payroll Taxes, Firm Behavior, and Rent Sharing: Evidence from a Young Workers' Tax Cut in Sweden October 2017
    Emmanuel Saez, Benjamin Schoefer, David Seim

    This paper uses administrative data to analyze a large and long-lasting employer payroll tax rate cut from 31% down to 15% for young workers (aged 26 or less) in Sweden. We find a zero effect on net-of-tax wages of young treated workers relative to slightly older untreated workers, even in the medium run (after six years). Simple graphical cohort analysis shows compelling positive effects on the employment rate of the treated young workers, of about 2-3 percentage points, which arise primarily from fewer separations (rather than more hiring). These employment effects are larger in places with initially higher youth unemployment rates. We also analyze the firm-level effects of the tax cut. We sort firms by the size of the tax windfall and trace out graphically the time series of firms' outcomes. We proxy a firm's windfall with its share of treated young workers just before the reform. First, heavily treated firms expand after the reform: employment, capital, sales, value added, and profits all increase. These effects appear stronger in credit-constrained firms, consistent with liquidity effects. Second, heavily treated firms increase the wages of all their workers – young as well as old – collectively, perhaps through rent sharing. Wages of low paid workers rise more in percentage terms. Rather than canonical market-level adjustment, we uncover a crucial role of firm-level mechanisms in the transmission of payroll tax cuts.

    ...TAXES, FIRM BEHAVIOR, AND RENT SHARING: EVIDENCE FROM A YOUNG WORKERS' TAX CUT IN SWEDEN Emmanuel Saez Benjamin Schoefer David Seim Working Paper 23976 http://www.nber.org/papers/w23976 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 October 2017 We thank David Card, Raj Chetty, Johan Egebark, Anders Forslund, Peter Fredriksson, Matthew Gentzkow, Lena Hensvik...

    /papers/w23976

  • 96% The Economics of Corporate Tax Selfishness October 2004
    Joel Slemrod

    This paper offers an economics perspective on corporate tax noncompliance. It first reviews what is known about the extent and nature of corporate tax noncompliance and the resources devoted to enforcement. It then addresses the supply of corporate noncompliance -- the industrial organization of the tax shelter industry -- as well as the demand for corporate tax noncompliance, focusing on how the standard Allingham-Sandmo approach needs to be modified when applied to public corporations. It then discusses the implications of a supply-and-demand approach for the analysis of the incidence and efficiency cost of corporate income taxation, and the very justification for a separate tax on corporation income. Along the way it addresses policy proposals aimed at increased disclosure of corporate tax activities to both the IRS and to the public.

    ...OF CORPORATE TAX SELFISHNESS Joel Slemrod Working Paper 10858 http://www.nber.org/papers/w10858 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 October 2004 An earlier version of this paper was presented at the National Tax Association meetings in Chicago, November 13, 2003. I am grateful to Orna Gafni and Benjamin Potter for research assistance, to Rosanne...

    /papers/w10858

  • 94% The Transformation of Public Economics Research: 1970-2000

    ...of the Musgrave volume looked like a standard price theory book with graphs and algebra showing the partial equilibrium effects of taxes on prices and quantities and the associated effects on deadweight losses. The Musgrave book was about the core issues of incidence and efficiency and the positive effects on the actions of buyers and sellers without the detailed descriptions of tax rules or...

    /feldstein/publiceconomics.html

  • 94% Alternative Minimum Tax Rules and Multinational Corporations January 1995
    Andrew B. Lyon, Gerald Silverstein, R. Glenn Hubbard
    in Taxing Multinational Corporations, Martin Feldstein, James R. Hines Jr., R. Glenn Hubbard, editors

    ...of corporate tax receipts, or $8.1 billion. Including regular taxes paid by these AMT firms, AMT firms paid 21.4 percent of all corporate income tax.Approximately 25 percent of corporations with assets in excess of $50 million paid AMT. Among the largest firms, those with assets in excess of $500 million, the proportion of firms paying AMT was 30.6 percent. Among multinational firms, AMT incidence...

    /chapters/c7726

  • 94% Archive of NBER Papers on The Public Economics Program

    ...of NBER Papers on The Public Economics Program browse recent papers 2017 w24175 Ugo Troiano Do Taxes Increase Economic Inequality? A Comparative Study Based on the State Personal Income Tax w24174 Anton Korinek Joseph E. Stiglitz Artificial Intelligence and Its Implications for Income Distribution and Unemployment w24166...

    /papersbyprog/PE_archive.html

  • 94% Personal Taxation, Portfolio Choice and The Effect of the Corporation Income Tax November 1980
    Martin Feldstein, Joel Slemrod

    Extending the traditional treatment of the corporate tax to an economy with a progressive personal tax fundamentally changes the analysis. While the corporate tax system (CTS) does increase the total tax rate on corporate source income for some investors, the exclusion of retained earnings implies that the CTS lowers the tax rate for high-income investors. Analyzing such an economy requires replacing the traditional "equal-yield" equilibrium condition with a more general portfolio balance model. In this model, introducing a CTS can actually increase the corporate share of the capital stock even though the relative tax rate on corporate income rises.

    ...the Corporation Income Tax Martin S. Feldstein Harvard Unwersity and ihr National Bureau of Economic Research Joel Slemrod Unwersity of Minnesola and tlie National Bureau of Economic Research Extending the traditional treatment of the corporate tax to an economy with a progressive personal tax fundamentally changes the analysis. While the corporate tax system (CIS) does increase the total tax...

    /papers/w0241

  • 93% Vertical and Horizontal Redistributions from a Carbon Tax and Rebate March 2017
    Julie Anne Cronin, Don Fullerton, Steven E. Sexton

    Because electricity is a higher fraction of spending for those with low income, carbon taxes are believed to be regressive. Many argue, however, that their revenues can be used to offset the regressivity. We assess these claims by employing data on 322,000 families in the U.S. Treasury’s Distribution Model to study vertical redistributions between rich and poor, as well as horizontal redistributions among families with common incomes but heterogeneous energy intensity of consumption (different home heating and cooling demands). Accounting for the statutory indexing of transfers, and measuring impacts on annual consumption as a proxy for permanent income, we find that the carbon tax burden is progressive, rising across deciles as a fraction of consumption. The rebate of revenue via transfers makes it even more progressive. In every decile, the standard deviation of the change in consumption as a fraction of consumption varies around 1% or 2% and is larger than the average burden (about 0.7%). When existing transfer programs are used to rebate revenue, the tax and rebate together increase that variation to more than 3% within each decile. The average family in the poorest decile gets a net tax cut of about 1% of consumption, but 44% of them get a net tax increase. Relative to no rebate, every type of rebate we consider increases this variation within most deciles.

    ...TAX AND REBATE Julie Anne Cronin Don Fullerton Steven E. Sexton Working Paper 23250 http://www.nber.org/papers/w23250 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2017 We thank Aparna Mathur, Janet McCubbin, Gilbert Metcalf, Adele Morris, Ian Parry, David Weisbach, and participants at two NBER workshops for helpful comments and suggestions. Views...

    /papers/w23250

  • 92% "Double Taxation" of Dividends, Differential Taxation of Stockholders, and Income Tax Relief 1962
    Daniel M. Holland
    in Dividends Under the Income Tax, Daniel M. Holland

    ...of Corporate Earnings To discuss the personal income tax on dividends and neglect the fact that the corporate earnings out of which dividends are paid have been taxed at the corporate level, as in the first part of Chapter 3, does not get at the heart of stockholder taxation. To proceed, as in the latter part of Chapter 3, to take account of corporate earnings and the cor- poration income tax...

    /chapters/c1951

  • 91% Transition Losses of Partially Mobile Industry-Specific Capital July 1980
    Don Fullerton

    Comparative static models typically assume homogeneous and mobile factors in estimating the economic effects of a tax policy change. Even dynamic models employ a given homogeneous capital stock in two different al locations for the first period of two equilibrium sequences. This malleable capital assumption causes overstatement of early efficiency gains from policies designed to improve factor allocation. on the other hand, immobile factor models would understate such gains by assuming that no capital ever relocates. The model in this paper attempts to bridge this gap by restricting each industry's capital reduction to its rate of depreciation. The stock of depreciated capital from the previous period represents an industry-specific type of capital which may earn a lower equilibrium return. The usage of mobile capital above this minimum constraint is limited by the total gross saving of the economy, including all industries' depreciation and consumer net saving. The industry-specific capital model suggests, for example, that previous estimates of the dynamic efficiency gain from full integration of personal and corporate taxes in the U.S. are overstated by about $5 billion. The model could also be used to estimate distributional impacts on individuals with more than proportionate ownership of capital in particular industries.

    ...of the NBER's research program in Taxation. Any opinions expressed are those of the author and not those of the National Bureau of Economic Research. NBER Working Paper #520 July, 1980 Transition Losses of Partially Mobile Industry-Specific Capital ABSTRACT Comparative static models typically assume homogeneous and mobile factors in estimating the economic effects of a tax policy change. Even...

    /papers/w0520

  • 91% Replacing the U.S. Income Tax with a Progressive Consumption Tax: A Sequenced General Equilibrium Approach May 1982
    Don Fullerton, John B. Shoven, John Whalley

    This paper examines the welfare consequences of changing the current U.S. income tax system to a progressive consumption tax. We compute a sequence of single period equilibria in which savings decisions depend on the expected future return to capital. In the presence of existing income taxes, the U.S. economy is assumed to lie on a balanced growth path. With the change to a consumption tax, individuals save more and initially consume less. As the capital stock grows, consumption eventually overtakes that of the original path, and the economy approaches the new balanced growth path with higher consumption and a greater capital stock. Both the transition and the balanced growth paths enter our welfare evaluations. We find that the discounted present value of the stream of net gains is approximately $650 billion in 1973 dollars, just over one percent of the discounted present value of national income. Larger gains occur if further reform of capital income taxation accompanies the change. We examine the sensitivity of the results, both to the design of the consumption tax and to the values of elasticity and other parameters. The paper also contains estimates of the time required to adjust from one growth path to the other.

    ...INCOME TAX WITH A PROGRESSIVE CONSUMPTION TAX: A SEQUENCED GENERAL EQUILIBRIUM APPROACH Don Füllerton John B. Shoven John Whalley Working Paper No. 892 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge MA 02138 May 1982 A previous version of this paper was presented at the NBER conference cxi Taxation of Capital, Cambridge, Mass., November 1979. We are grateful to...

    /papers/w0892

  • 90% State Taxation and the Reallocation of Business Activity: Evidence from Establishment-Level Data September 2015
    Xavier Giroud, Joshua Rauh

    In a sample of over 27 million establishments of U.S. firms with activities in more than one state, we estimate the impact of state business taxation on business activity. Only firms organized as subchapter C corporations are subject to the corporate tax code, whereas the income of partnerships, sole-proprietorships, and S corporations is passed through annually to the firm's owners and taxed at individual rates. For C corporations, both employment at existing establishments (intensive margin) and the number of establishments in the state (extensive margin) have corporate tax elasticities of -0.4. Pass-through entities, which serve as a control group for the corporate tax reforms, respond only to the personal tax code, with tax elasticities of -0.2 to -0.3. Around half of the effects are driven by reallocation of productive resources to other states where the treated firms have establishments. Capital shows similar patterns but is 36% less elastic than labor. A narrative approach confirms that the results are robust and strongest in the sample of tax changes that were implemented due to inherited budget deficits, long-run goals, or cross-state variation caused by Federal tax reforms.

    ...of the authors and do not necessarily represent the views of the U.S. Census Bureau. All results have been reviewed to ensure that no confidential information is disclosed. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. At least one co-author has disclosed a financial relationship of potential relevance for...

    /papers/w21534

  • 90% Introduction to "The Income Tax Burden on Stockholders" 1958
    Daniel M. Holland
    in The Income Tax Burden on Stockholders, Daniel M. Holland

    ...INCOME-TAX BURDEN ON STOCKHOLDERS STA OUR composite systel some years the targei contend that it resul argue that it enable avoid high upper-br tax burden. This st that bears on these Such questions o treatment, and it is corporate earnings historical review wj At. no time since personal combined) between corporate initial attempt at in component of corpo exempted dividends income and the...

    /chapters/c2605

  • 90% Economic Report of the President February 2018
    Council of Economic Advisers

    ...of Economic Advisers February 2018 Economic Report of the President Together with The Annual Report of the Council of Economic Advisers February 2018 x Contents Economic Report of the President.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 The Annual Report of the Council of Economic Advisers. . . . . . . . . . . . . . . . . . . . 13 Chapter 1 Taxes and...

    /ERP_2018_Final-FINAL.pdf

  • 90% Capital Flight and Tax Competition: Are There Viable Solutions to Both Problems? April 1990
    Alberto Giovannini, James R. Hines, Jr.

    This paper discusses a model corporate tax system based on the application of the residence principle. This tax system, while preserving national sovereignties, minimizes the distortions from international capital mobility. The paper is motivated by an analysis of European capital income tax systems, and of the distortions they might give rise to as obstacles to international capital flows diminish. The alternative system we analyze has two main properties: it exploits the territoriality of law enforcement, and allows countries to set the corporate tax rate - and the extent of double taxation of corporate income - independently from their partners. The paper concludes with some suggestive evidence of the potential revenue effects among European countries of this tax system.

    ...of European capital income tax systems, and of the distortions they might give rise to as obstacles to international capital flows diminish. The alternative system we analyze has two main properties: it exploits the territoriality of law enforcement, and allows countries to set the corporate tax rate - and the extent of double taxation of corporate income - independently from their partners. The...

    /papers/w3333

  • 89% Would a Consumption Tax Reduce Interest Rates? January 1998
    Martin Feldstein
    in Tax Policy and the Economy, Volume 12, James Poterba, editor

    ...corporate income taxes with a consumption tax, there has been little attention to the effect of such a tax change on pre-tax interest rates and other pre-tax factor incomes. Despite the general absence of formal analyses, some economists have concluded that shifting to a consumption-type tax would lead, because such a tax would exempt interest income and encourage additional saving, to lower pre...

    /chapters/c10917

  • 89% Market Reactions to Export Subsidies January 2004
    Mihir A. Desai, James R. Hines Jr.

    This paper analyzes the economic impact of export subsidies by investigating stock price reactions to a critical event in 1997. On November 18, 1997, the European Union announced its intention to file a complaint before the World Trade Organization (WTO), arguing that the United States provided American exporters illegal subsidies by permitting them to use Foreign Sales Corporations to exempt a fraction of export profits from taxation. Share prices of American exporters fell sharply on this news, and its implication that the WTO might force the United States to eliminate the subsidy. The share price declines were largest for exporters whose tax situations made the threatened export subsidy particularly valuable. Share prices of exporters with high profit margins also declined markedly on November 18, 1997, suggesting that the export subsidies were most valuable to firms earning market rents. This last evidence is consistent with strategic trade models in which export subsidies improve the competitive positions of firms in imperfectly competitive markets.

    ...of Michig an and the Division of Research at Harvard Business School for financial support. The views expressed here in are those of the authors and not necessarily those of the National Bureau of Economic Research. ©2004 by Mihir A. Desai and James R. Hines Jr. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that...

    /papers/w10233

  • 89% How Progressive is the U.S. Federal Tax System? A Historical and International Perspective August 2006
    Thomas Piketty, Emmanuel Saez

    This paper provides estimates of federal tax rates by income groups in the United States since 1960, with special emphasis on very top income groups. We include individual and corporate income taxes, payroll taxes, and estate and gift taxes. The progressivity of the U.S. federal tax system at the top of the income distribution has declined dramatically since the 1960s. This dramatic drop in progressivity is due primarily to a drop in corporate taxes and in estate and gift taxes combined with a sharp change in the composition of top incomes away from capital income and toward labor income. The sharp drop in statutory top marginal individual income tax rates has contributed only moderately to the decline in tax progressivity. International comparisons confirm that is it critical to take into account other taxes than the individual income tax to properly assess the extent of overall tax progressivity, both for time trends and for cross-country comparisons. The pattern for the United Kingdom is similar to the US pattern. France had less progressive taxes than the US or UK in 1970 but has experienced an increase in tax progressivity and has now a more progressive tax system than the US or the UK.

    ...TAX SYSTEM? A HISTORICAL AND INTERNATIONAL PERSPECTIVE Thomas Piketty Emmanuel Saez Working Paper 12404 http://www.nber.org/papers/w12404 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 July 2006 Thomas Piketty is Professor of Economics, Paris School of Economics (PSE), Paris, France, and a Research Fellow, Centre for Economic Policy Research, London, United...

    /papers/w12404

  • 88% Generational Accounting for France January 1999
    Joaquim Levy, Ousmane Dore, Willi Leibfritz
    in Generational Accounting around the World, Alan J. Auerbach, Laurence J. Kotlikoff and Willi Leibfritz, editors

    ...-of-print volume from the National Bureau of Economic Research Volume Title: Generational Accounting around the World Volume Author/Editor: Alan J. Auerbach, Laurence J. Kotlikoff and Willi Leibfritz, editors Volume Publisher: University of Chicago Press Volume ISBN: 0-226-03213-2 Volume URL: http://www.nber.org/books/auer99-1 Publication Date: January 1999 Chapter Title: Generational Accounting...

    /chapters/c6693

  • 88% Do We Collect Any Revenue from Taxing Capital Income? 1988
    Roger H. Gordon, Joel Slemrod
    in Tax Policy and the Economy: Volume 2, Lawrence H. Summers, editor

    ...from Taxing Capital Income? Chapter Author: Roger H. Gordon, Joel Slemrod Chapter URL: http://www.nber.org/chapters/c10938 Chapter pages in book: (p. 89 - 130) DO WE COLLECT ANY REVENUE FROM TAXING CAPITAL INCOME? Roger H. Gordon and Joel Slemrod University of Michigan and NBER EXECUTIVE SUMMARY The wide variation in effective tax rates on income from different types of capital received by...

    /chapters/c10938

  • 87% The New View of the Property Tax: A Reformulation October 1984
    Peter M. Mieszkowski, George R. Zodrow

    The"new view" of the property tax is reformulated within the context of a model with interjurisdictional competition, endogenous local public services, individuals who are segregated into homogeneous communities according to tastes for local public services, a simple form of land use zoning, and a political or constitutional constraint on the use of head taxes by local governments. Expressions for the "profits tax" and"excise tax" effects of the property tax are derived. The effects of a "consumption distortion" away from government services due to local reluctance to tax mobile capital are also examined.

    ...use of head taxes by local governments. Expressions for the "profits tax" and "excise tax" effects of the property tax are derived. The effects of a "consumption distortion" away from government services due to local reluctance to tax mobile capital are also examined. Peter M. Mieszkowski Department of Economics Rice University Houston, Texas 77251 George R. Zodrow Department of Economics Rice...

    /papers/w1481

  • 86% Fall 05 Reporter.qxd

    ...OF ECONOMIC RESEARCH Reporter OnLine at: www.nber.org/reporter FALL 2005 Program Report IN THIS ISSUE Program Report: DAE 1 Research Summaries: Impatience and Savings 6 Bank Regulation and Supervision 9 Corporate Governance and …Globalization 13 The Development of the American Economy Claudia Goldin* NBER Profiles Conferences Bureau News Bureau Books Current Working Papers 16 17 23 39 41...

    /reporter/fall05/fall05.pdf

  • 86% In Praise of Frank Ramsey's Contribution to the Theory of Taxation September 2014
    Joseph E. Stiglitz

    Frank Ramsey's classic paper "A contribution to the theory of taxation" gave rise to the modern theory of optimal taxation. This paper traces the literature that grew out of Ramsey's 1927 paper and assesses which of its key insights has proven robust. Though the path breaking work of Peter Diamond and James Mirrlees showed that Ramsey's results could be generalized in some important ways, other work showed that the domain of applicability of Ramsey's original insights may be more limited: changes in assumptions about the set of feasible taxes (not allowing certain taxes, or allowing a progressive income tax or non-linear commodity taxes), and in particular about the taxation of pure rents, incorporating more explicitly distributional considerations, and/or recognizing the important ways in which our economy differs from the competitive model underlying Ramsey's analysis all change the optimal structure of commodity taxation in important ways.

    ...of the author and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2014 by Joseph E. Stiglitz. All rights reserved. Short sections of text, not to exceed...

    /papers/w20530

  • 86% Simulating Business Cash Flow Taxation: An Illustration Based on the “Better Way” Corporate Tax Reform August 2017
    Seth G. Benzell, Laurence J. Kotlikoff, Guillermo LaGarda

    The U.S., according to some measures, has one of the highest marginal effective corporate tax rates (METRs) of any developed country. Yet the tax collects less than 2 percent of GDP. This paper studies the impact of replacing the U.S. corporate tax with a Business Cash Flow Tax (BCFT). Our paper studies BCFT reform with reference to a particular, but reasonably generic, proposal, namely the House Republican “Better Way” tax plan. We use the Global Gaidar Model – a 17-region, global, overlapping-generations model, calibrated to U.N. demographic and IMF fiscal data – to simulate the dynamic, general equilibrium impact of this reform. In the short run, the U.S. capital stock, pre-tax wage rates, and GDP rise by roughly 25 percent, 8 percent, and 9 percent, respectively. Over time, the capital stock and wage rates remain significantly above their baseline values. There is a smaller long-run increase in GDP as workers spend some of their higher wages on additional leisure. The tax reform produces enough additional revenues to permit a reduction in personal income tax rates while maintaining the economy's initial debt-to-GDP ratio. The beneficiaries of the House plan are today's and tomorrow's workers. We also simulate a matching METR cut by the rest of the world, which raises the world interest rate. The short-run increases in the capital stock, pre-tax wage rates, and GDP are smaller. However, along the transition path, all U.S. agents experience slightly higher welfare than under the House plan. This reflects the combination of a higher post-corporate tax world interest rate and Americans' disproportionately large holdings of global assets

    ...CORPORATE TAX REFORM Seth G. Benzell Laurence J. Kotlikoff Guillermo LaGarda Working Paper 23675 http://www.nber.org/papers/w23675 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 August 2017 We thank the Gaidar Institute, Boston University, and The Fiscal Analysis Center for research support. The Global Gaidar Model used in this study was co-developed by the...

    /papers/w23675

  • 86% Distributional Implications of Alternative U.S. Greenhouse Gas Control Measures June 2010
    Sebastian Rausch, Gilbert E. Metcalf, John M. Reilly, Sergey Paltsev

    We analyze the distributional and efficiency impacts of different allowance allocation schemes for a national cap and trade system using the USREP model, a new recursive dynamic computable general equilibrium model of the U.S. economy. We consider allocation schemes applied to a comprehensive national cap and trade system that limits cumulative greenhouse gas emissions over the control period to 203 billion metric tons. The policy target approximates national goals identified in pending legislation. We find that the allocation schemes in all proposals are progressive over the lower half of the income distribution and proportional in the upper half of the income distribution. We also find that carbon pricing by itself (ignoring the return of carbon revenues through allowance allocations) is proportional to modestly progressive. This striking result follows from the dominance of the sources over uses side impacts of the policy and stands in sharp contrast to previous work that has focused only on the uses side. Lower income households derive a large fraction of income from government transfers and, reflecting the reality that these are generally indexed to inflation, we hold the transfers constant in real terms. As a result this source of income is unaffected by carbon pricing, while wage and capital income is affected.

    ...of Chicago Energy Initiative, Resources for the Future, and the University of Illinois. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. © 2010 by Sebastian Rausch, Gilbert E. Metcalf, John M. Reilly, and Sergey Paltsev. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted...

    /papers/w16053

  • 85% NBER Reporter Winter 06.qxd

    ...OF ECONOMIC RESEARCH Reporter OnLine at: www.nber.org/reporter WINTER 2005/6 Program Report IN THIS ISSUE Program Report: Public Economics 1 Research Summaries: Contribution of Science … to Production 8 Foreign Direct Investment Behavior of MNCs 11 Race and … American Economic History 15 Globalization and … Economic History 18 NBER Profiles Conferences Bureau News Bureau Books Current...

    /reporter/winter06/winter06.pdf

  • 84% winter06

    ...Corporations Race and Twentieth-Century American Economic History Globalization and New Comparative Economic History Program Report: Public Economics James Poterba * * Poterba directs the NBER's Program on Public Economics and is a Professor of Economics at MIT. Researchers in the NBER Public Economics Program study many of the core issues that have been at the center of...

    /reporter/winter06

  • 82% Dividend Receipts and Income Tax Liability 1962
    Daniel M. Holland
    in Dividends Under the Income Tax, Daniel M. Holland

    ...-of-print volume from the National Bureau of Economic Research Volume Title: Dividends Under the Income Tax Volume Author/Editor: Daniel M. Holland Volume Publisher: Princeton University Press Volume ISBN: 0-870-14455-3 Volume URL: http://www.nber.org/books/holl62-1 Publication Date: 1962 Chapter Title: Dividend Receipts and Income Tax Liability Chapter Author: Daniel M. Holland Chapter URL: http...

    /chapters/c1950

  • 82% Have Tax Reforms Affected Investment? January 1995
    Jason G. Cummins, Kevin A. Hassett, R. Glenn Hubbard
    in Tax Policy and the Economy, Volume 9, James M. Poterba, editor

    ...of Governors of the Federal Reserve System R. Glenn Hubbard Columbia University and NBER EXECUTIVE SUMMARY We improve upon existing approaches used to estimate investment models by exploiting tax reforms as "natural experiments." We find that tax policy has an economically important effect through the user cost of capital on firms' equipment investment following major tax reforms enacted in...

    /chapters/c10893

  • 81% An Examination of Multijurisdictional Corporate Income Taxes Under Formula Apportionment June 1984
    Roger H. Gordon, John D. Wilson

    This paper examines how corporate taxation of multijurisdictional firms using formula apportionment affects the incentives faced by individual firms and individual states. We find that formula apportionment creates factor price distortions which vary in general among firms within a state, and in such a way as often to put multistate firms at a competitive advantage. Formula apportionment also creates incentives for cross-hauling of output,with production in low tax rate states more profitably sold in hightax rate states, and conversely. Politically, formula apportionment appears to be very unstable --states face an incentive to shift to some other form of taxation. None of these problems exist when a corporate tax uses separate accounting.

    ...part of the NBER's research program in Taxation and project in Government Budget. Any opinions expressed are those of the authors and not those of the National Bureau of Economic Research or of AT&T Bell Laboratories. NBER Working Paper #1369 June I98H An Examination of Multijurisdictional Corporate Income Taxes Under Formula Apportionment ABSTRACT This paper examines how corporate taxation of...

    /papers/w1369

  • 81% The Structure of State Corporate Taxation and its Impact on State Tax Revenues and Economic Activity August 2017
    Juan Carlos Suárez Serrato, Owen M. Zidar

    This paper documents facts about the state corporate tax structure | tax rates, base rules, and credits | and investigates its consequences for state tax revenue and economic activity. We present three main findings. First, tax base rules and credits explain more of the variation in state corporate tax revenues than tax rates do. Second, although states typically do not offset tax rate changes with base and credit changes, the effects of tax rate changes on tax revenue and economic activity depend on the breadth of the base. Third, as states have narrowed their tax bases, the relationship between tax rates and tax revenues has diminished. Overall, changes in state tax bases have made the state corporate tax system more favorable for corporations and are reducing the extent to which tax rate increases raise corporate tax revenue.

    ...OF STATE CORPORATE TAXATION AND ITS IMPACT ON STATE TAX REVENUES AND ECONOMIC ACTIVITY Juan Carlos Suarez Serrato Owen M. Zidar Working Paper 23653 http://www.nber.org/papers/w23653 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 August 2017, Revised February 2018 We are especially thankful to Tim Bartik for providing detailed comments on an early draft as...

    /papers/w23653

  • 81% Tax Reform Made Me Do It! November 2018
    Michelle Hanlon, Jeffrey L. Hoopes, Joel Slemrod
    in Tax Policy and the Economy, Volume 33, Robert A. Moffitt, editor

    Tax Reform Made Me Do It! Michelle Hanlon MIT Jeffrey L. Hoopes University of North Carolina Joel Slemrod University of Michigan November 5, 2018 Abstract. This paper examines corporations’ actions, and statements about actions, following the tax law change known as the Tax Cuts and Jobs Act (TCJA). Specifically, we examine four different outcomes—bonuses (or other actions that benefit workers...

    /chapters/c14186

Displaying 20 - 40 of 47000 results. More results.

 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us