G2TT
来源类型Discussion paper
规范类型论文
来源IDDP7180
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
URLhttps://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.
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