全球智库信息集成服务系统(G2TT): Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w15044
来源ID	Working Paper 15044
	Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform
	Francois Gourio; Jianjun Miao
发表日期	2009-06-04
出版年	2009
语种	英语
摘要	To study the long-run effect of dividend taxation on aggregate capital accumulation, we build a dynamic general equilibrium model in which there is a continuum of firms subject to idiosyncratic productivity shocks. We find that a dividend tax cut raises aggregate productivity by reducing the frictions in the reallocation of capital across firms. Our baseline model simulations show that when both dividend and capital gains tax rates are cut from 25 and 20 percent, respectively, to the same 15 percent level permanently, the aggregate long-run capital stock increases by about 4 percent.
主题	Macroeconomics ; Consumption and Investment ; Fiscal Policy ; Financial Economics ; Corporate Finance ; Public Economics ; Taxation
URL	https://www.nber.org/papers/w15044
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/572720
推荐引用方式 GB/T 7714	Francois Gourio,Jianjun Miao. Firm Heterogeneity and the Long-run Effects of Dividend Tax Reform. 2009.