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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP7180 |
DP7180 Testing Asymmetric-Information Asset Pricing Models | |
Alexander Ljungqvist; Bryan Kelly | |
发表日期 | 2009-02-23 |
出版年 | 2009 |
语种 | 英语 |
摘要 | Tax competition within the EU is fiercer than in the rest of the OECD with tax rates falling rapidly. This paper analyzes tax responses of EU-15 countries to corporate tax changes in the EU-10 new member states as a function of their proximity to these new member states. The average corporate tax rate in the new member states has always been considerably lower than the average in the EU-15 countries. Their entry into the EU eliminated capital barriers, allowing firms to locate in one of the new EU-10 with full access to the European Market. Our results indicate that EU-15 countries geographically closer to the new member states respond stronger to corporate tax changes in these new member states. We use a theoretical and a spatial regression framework to test the hypothesis that distance to a low tax region intensifies countries' tax reaction functions. |
主题 | International Trade and Regional Economics |
关键词 | Corporate taxes Fiscal reaction function Spatial tax competition |
URL | https://cepr.org/publications/dp7180 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536017 |
推荐引用方式 GB/T 7714 | Alexander Ljungqvist,Bryan Kelly. DP7180 Testing Asymmetric-Information Asset Pricing Models. 2009. |
条目包含的文件 | 条目无相关文件。 |
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