G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w23391
来源IDWorking Paper 23391
Stimulus Effects of Investment Tax Incentives: Production versus Purchases
Christopher L. House; Ana-Maria Mocanu; Matthew D. Shapiro
发表日期2017-05-08
出版年2017
语种英语
摘要The distinction between production and purchases of investment goods is essential for quantifying the response to changes in investment tax incentives. If investment goods are tradeable, a large fraction of the demand from changes in tax subsidies will be met from abroad. This difference between production and purchases implies that investment tax incentives will lead to more capital accumulation, but less stimulus to economic activity relative to a no-trade counterfactual. Domestic capacity to produce investment goods is less than perfectly elastic because of quasi-fixed factors of production, adjustment costs, and specialization of labor. This paper builds these features into a DGSE model where key parameters are estimated to match the reduced-form response of investment production and purchases to tax incentives. Typical investment tax policies result in equipment purchases that are split roughly half between domestic and foreign production of equipment.
主题Macroeconomics ; Consumption and Investment ; Fiscal Policy ; Public Economics ; Taxation
URLhttps://www.nber.org/papers/w23391
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/581065
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Christopher L. House,Ana-Maria Mocanu,Matthew D. Shapiro. Stimulus Effects of Investment Tax Incentives: Production versus Purchases. 2017.
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