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Tax structure and economic growth
Abstract Past theoretical work predicts that higher corporate tax rates should decrease economic growth rates, while the effects of high personal tax rates are less clear. In this paper, we exploreExpand
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Taxation of Investment and Savings in a World Economy: the Certainty Case
The equilibrium of capital and equilibrium market prices are derived for a world economy with a unified securities market, mobile capital, no uncertainty, and varying tax rates on different sourcesExpand
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An Optimal Taxation Approach to Fiscal Federalism
In a Federal system of government, each unit of government decides independently how much of each type of public good to provide, and what types of taxes, and which tax rates, to use in funding theExpand
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Do Taxes Affect Corporate Debt Policy? Evidence from Us Corporate Tax Return Data
Past attempts to measure the impact of taxes on corporate debt policy have focused on larger firms. Given that the top statutory corporate tax rate has varied little in recent years, tax incentivesExpand
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Taxes and entrepreneurial risk-taking: Theory and evidence for the U.S. ☆
Abstract How does the tax law affect individual incentives to engage in entrepreneurial risk taking? We first show theoretically that taxes can affect incentives due to differences in tax rates onExpand
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Are "Real" Responses to Taxes Simply Income Shifting between Corporate and Personal Tax Bases?
Two well-noted phenomena of recent decades are the increasing concentration of personal income and the declining rate of corporate profitability. This paper investigates to what extent these twoExpand
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Why is Capital so Immobile Internationally?: Possible Explanations and Implications for Capital Income Taxation
The evidence on international capital immobility is extensive, ranging from the correlations between domestic savings and investment pointed out by Feldstein-Horioka (1980), to real interestExpand
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Intergenerational Risk Sharing
In this paper, we argue that in designing government debt and tax-transfer policies, it is important to consider their implications for the allocation of risk between generations. There is no reasonExpand
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Can Capital Income Taxes Survive in Open Economies?
Optimal-tax theory forecasts that small open economies should not tax capital income. Yet, countries do tax capital income. Why the inconsistency? This paper shows that use of the double-taxationExpand
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Taxation of Corporate Capital Income: Tax Revenues vs. Tax Distortions
This paper shows that when uncertainty is taken into account explicitly, taxation of corporate income can leave corporate investment incentives, and individual savings incentives, basicallyExpand
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