Taxes and the global allocation of capital /
David Backus, Espen Henriksen, Kjetil Storesletten.
Description
- Language(s)
-
English
- Published
-
Cambridge, Mass. : National Bureau of Economic Research, c2007.
- Summary
-
Despite enormous growth in international capital flows, capital-output ratios continue to exhibit substantial heterogeneity across countries. We explore the possibility that taxes, particularly corporate taxes, are a significant source of this heterogeneity. The evidence is mixed. Tax rates computed from tax revenue are inversely correlated with capital-output ratios, as we might expect. However, effective tax rates constructed from official tax rates show little relation to capital -- or to revenue-based tax measures. The stark difference between these two tax measures remains an open issue.
- Note
-
"November 2007."
Also available in PDF from the NBER world wide web site (www.nber.org).
- Physical Description
-
28 p. :
ill. ;
22 cm.
Viewability