G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w21003
来源IDWorking Paper 21003
Capital Tax Reform and the Real Economy: The Effects of the 2003 Dividend Tax Cut
Danny Yagan
发表日期2015-03-09
出版年2015
语种英语
摘要This paper tests whether the 2003 dividend tax cut—one of the largest reforms ever to a U.S. capital tax rate—stimulated corporate investment and increased labor earnings, using a quasi-experimental design and U.S. corporate tax returns from years 1996-2008. I estimate that the tax cut caused zero change in corporate investment and employee compensation. Economically, the statistical precision challenges leading estimates of the cost-of-capital elasticity of investment, or undermines models in which dividend tax reforms affect the cost of capital. Either way, it may be difficult to implement an alternative dividend tax cut that has substantially larger near-term effects.
主题Financial Economics ; Corporate Finance ; Public Economics ; Taxation
URLhttps://www.nber.org/papers/w21003
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/578677
推荐引用方式
GB/T 7714
Danny Yagan. Capital Tax Reform and the Real Economy: The Effects of the 2003 Dividend Tax Cut. 2015.
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