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http://hdl.handle.net/2451/26061
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| Title: | Taxes and the Global Allocation of Capital |
| Authors: | Backus, David
Henriksen, Espen
Storeletten, Kjetil |
| Keywords: | capital
taxes
capital-output ratio
international capital °ows |
| Issue Date: | 15-Nov-2007 |
| Series/Report no.: | EC-07-31 |
| Abstract: | Despite enormous growth in international capital °ows,
capital-output ratios continue to exhibit substantial heterogeneity
across countries. We explore the possibility that taxes, particularly
corporate taxes, are a signi¯cant 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. |
| URI: | http://hdl.handle.net/2451/26061 |
| Appears in Collections: | Economics Working Papers
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