| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w6533
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| 来源ID | Working Paper 6533
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| Taxation and the Sources of Growth: Estimates from United States Multinational Corporations |
| Jason G. Cummins
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| 发表日期 | 1998-04-01
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| 出版年 | 1998
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| 语种 | 英语
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| 摘要 | Capital income tax policy affects investment by the parent and affiliates of multinational corporations (MNCs). In a model in which technical advances are embodied in new capital, investment will translate directly into productivity gains. In this paper, I use this framework to guide the growth accounting decomposition and clarify the relationship between capital growth and overall firm growth. A semiparametric technique is used to correct for the usual bias that afflicts production function parameter estimates. These estimates are used to analyze the sources of MNC's growth. Three findings stand out: (1) growth in parent and affiliate capital are the most important sources of growth, with FDI contributing more to growth than the sum of the contributions of parent and affiliate employment, and materials; (2) productivity has boomed since 1992, due to productivity growth in MNCs with Canadian affiliates; (3) the investment elasticity of productivity growth is large and adjustment costs of investment are small, suggesting that changes in the after-tax price of capital result in robust investment which translates directly into productivity gains. |
| 主题 | Econometrics
; Estimation Methods
; Microeconomics
; Households and Firms
|
| URL | https://www.nber.org/papers/w6533
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/564048
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推荐引用方式
GB/T 7714 |
Jason G. Cummins. Taxation and the Sources of Growth: Estimates from United States Multinational Corporations. 1998.
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文件名：
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w6533.pdf
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格式：
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Adobe PDF
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