Download or read book Hidden Stimuli to Capital Formation written by Robert S. Chirinko and published by . This book was released on 2010 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a common belief that the disappointing economic performance in the 1970s can be attributed in good part to the interaction of tax rules, inflation, and capital formation. In this paper, we reassess the relationships between inflation, the tax code, and investment incentives because previous results are based on a number of tenuous assumptions whose impact has not been fully appreciated. We also question the appropriateness of the conventional user cost formulation, and derive an alternative measure taking explicit account of the role of debt -- acquisition,retirement, and net-of-tax interest payments -- and the equity holders' ownership of the firm. Our numerical results show that previously reported disincentives for acquiring capital goods in generaland against longer-lived capital in particular are attenuated, and in a number of cases reversed, under various sets of assumptions. Differences in results stemming from the conventional and modified user costs are highlighted, and are illustrated by a comparison of the U.S. Treasury's tax reform proposals under the two formulations.
Download or read book Conference Series written by and published by . This book was released on 1982 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The C F A Digest written by Institute of Chartered Financial Analysts and published by . This book was released on 1986 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Proceedings of the Annual Conference on Taxation Held Under the Auspices of the National Tax Association Tax Institute of America written by National Tax Association-Tax Institute of America and published by . This book was released on 1983 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Saving and Government Policy written by and published by . This book was released on 1982 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Working Paper Series written by and published by . This book was released on 1985 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Conference Series Federal Reserve Bank of Boston written by Federal Reserve Bank of Boston and published by . This book was released on 1969 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tests for Liquidity Constraints written by Fumio Hayashi and published by . This book was released on 1985 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys recent empirical work on tests for liquidity constraints. The focus of the survey is on the tests based on the Euler equation. After examining the technical aspects of the recent tests on aggregate time-series data and on micro data, the survey tries to evaluate their economic significance. The paper concludes that for a significant fraction of the population the behavior of consumption over time is affected in away predicted by credit rationing and differential borrowing and lending rates. However, the available evidence is shown to have failed in providing information necessary to calculate the response of consumption to changes in the time profile of income. The paper attributes the failure to the fact that not much attention in the literature has been paid to the cause of liquidity constraints.
Download or read book Proceedings of the Annual Conference on Taxation Held Under the Auspices of the National Tax Association Tax Institute of America written by National Tax Association and published by . This book was released on 1982 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Econometric Models and Empirical Findings for Business Investment written by Robert S. Chirinko and published by . This book was released on 1993 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Future of Capital Formation written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2011 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Fixed Investment Spending written by Robert S. Chirinko and published by . This book was released on 1992 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Nature and Estimation of Age Period and Cohort Effects in Demographic Data written by David E. Bloom and published by . This book was released on 1985 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a general procedure for estimating age, period, and cohort effects in demographic data. The procedure involves structuring, mathematically, the effect of cross-cohort changes in the timing and level of a vital event on period rates of occurrence of the event. The procedureis illustrated and tested in an application to data on the first birth rates of American women. Overall, the empirical results provide support for the procedure. The results also provide evidence that period effects are highly age-specific and that the size of cohort effects may be substantially overestimated by models which fail to allow for the age specificity of period effects.
Download or read book Birth Outcome Production Functions in the U S written by Hope Corman and published by . This book was released on 1985 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper contains the first infant health production functions that simultaneously consider the effects of a variety of inputs on race-specific neonatal mortality rates. These inputs include the use of prenatal care, neonatal intensive care, abortion, Federally subsidized organized family planning clinics, maternal and infant care projects, community health centers, and the WIC program. The empirical analysis is based on a cross section of U.S. counties in 1977, and the incidence of low birth weight (2,500 grams or less) is employed as an intermediate outcome. This allows us to examine the extent to which prenatal inputs operate directly on neonatal mortality and also allows us to examine their indirect effects on mortality rates through low birth weight. Since mothers with poor endowed birth outcomes will attempt to offset these unfavorable prospects by utilizing more health inputs, major emphasis is placed on two-stage least squares estimatesof the production function. Our results underscore the qualitative and quantitative importance of abortion, prenatal care, neonatal intensive care, and the WIC program in black and white birth outcomes.
Download or read book Assistance to the Poor in a Federal System written by Charles Brown and published by . This book was released on 1985 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the roles of different levels of government in assisting the poor. Using a model with utility interdependence, the paper presents some theoretical results on how levels of poor relief vary with the extent of mobility of the poor under both centralized and decentralized systems of support. After surveying the relevant empirical work and the experience under the English Poor Laws, the paper argues for a basic role for central government in this function.
Download or read book Real and Financial Decisions of a Firm with Bankruptcy and Default written by Fumio Hayashi and published by . This book was released on 1983 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to provide a framework for analyzing the interaction between real decisions (concerning investment and factor inputs)and financial decisions (concerning debt and new share issues) of a corporation. The model carries a rich menu of tax rates and explicitly incorporates bankruptcy and default. The firm's multi-period optimization problem is set up where real and financial decisions are simultaneously determined to maximize the value of the firm which is the market price of uncertain future dividends. The main results of the paper are as follows:if the firm's after-tax profits are small relative to investment, the firm finances new investment by retentions and debt; if they are large relative to investment, financing additional investment is done through new shares and debt; in the intermediate case, additional investment is financed entirely by debt.
Download or read book The State as the Marriage Partner of Last Resort written by Mikhail S. Bernstam and published by . This book was released on 1986 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
