| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13073 |
| DP13073 Reviving American Entrepreneurship? Tax Reform and Business Dynamism | |
| Petr Sedlacek; Vincent Sterk | |
| 发表日期 | 2018-07-24 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | The 2017 Tax Cuts and Jobs Act slashed tax rates on business income and introduced immediate expensing of investments. Using a quantitative heterogeneous firms model, we investigate the long-run effects of such tax reforms on firm dynamics. We find that they can substantially increase business dynamism, potentially offsetting the large decline in the U.S. startup rate observed over recent decades. This result is driven by indirect equilibrium forces: the tax reform stimulates firm entry, leading to an increase in labor demand and wages, which in turn makes firm selection more stringent. Related to this is a large boost of the number of firms and of aggregate output, investment and employment. |
| 主题 | Macroeconomics and Growth |
| URL | https://cepr.org/publications/dp13073 |
| 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/541878 |
| 推荐引用方式 GB/T 7714 | Petr Sedlacek,Vincent Sterk. DP13073 Reviving American Entrepreneurship? Tax Reform and Business Dynamism. 2018. |
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