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Keywords:Tax incentives 

Working Paper
Temporary partial expensing in a general-equilibrium model

This paper uses a dynamic general-equilibrium model with a nominal tax system to consider the effects of temporary partial expensing allowances on investment and other macroeconomic aggregates.
Finance and Economics Discussion Series , Paper 2005-19

Working Paper
A retrospective evaluation of the effects of temporary partial expensing

This paper examines how business investment responded to temporary partial expensing, first enacted in 2002 and expanded in 2003. In principle, partial expensing boosted the incentive to invest which should have had a discernable impact on spending. However, the tax changes did not occur in a vacuum, so it is challenging to isolate their impact. Our empirical approach exploits a feature of the tax change which, under certain assumptions, allows us to cleanly estimate its impact. Specifically, partial expensing provided relatively generous tax treatment for long-lived assets. We use this ...
Finance and Economics Discussion Series , Paper 2006-19

Briefing
Evaluating business tax credits: reading between the lines

This policy brief provides guidelines for critically evaluating and interpreting empirical studies of state business tax credits. This brief summarizes analysis in NEPPC discussion paper 09-3: State Business Tax Incentives: Examining Evidence of their Effectiveness.
New England Public Policy Center Policy Brief

Working Paper
Investment, accounting, and the salience of the corporate income tax

This paper develops and tests the hypothesis that accounting rules mitigate the impact of tax policy on investment decisions by obscuring the timing of tax payments. I model a firm that maximizes a discounted weighted average of after-tax cash flows and accounting profits. The cost of capital and the impact of tax incentives for investment both depend on the weight placed on accounting profits. I estimate this weight by comparing the effectiveness of tax incentives that do and do not affect accounting profits. Investment tax credits, which do affect accounting profits, have more impact on ...
Finance and Economics Discussion Series , Paper 2011-20

Journal Article
Are state and local revenue systems becoming obsolete?

As recently as a year ago, state governments were awash in revenue, but reports from state revenue officials suggest that growth in tax receipts has slowed considerably in recent quarters. The flow of tax revenues into state coffers has decelerated primarily because the economy has suffered a severe shock (it was weakening even before September 11) and delayed tax cuts enacted in earlier, more prosperous times have taken full effect. However, many tax analysts believe that long-term economic, technological, and political trends are also partially responsible and will continue to constrain ...
New England Economic Review

Working Paper
State investment tax incentives: what are the facts?

There is an ongoing debate in the U.S. among policymakers and the courts concerning the practical effects of state investment tax incentives. However, this debate often suffers from a lack of clear information on the extent of such incentives among states and how these incentives have evolved over time. This paper takes a first step toward addressing this shortcoming. Compiling information from all 50 states and the District of Columbia over the past 40 years, we are able to paint a picture of the variation in state investment tax incentives across states and over time. In particular, we ...
Working Paper Series , Paper 2006-49

Journal Article
Spotlight: Texas wind energy: tax breaks, transmission lines key to growth

Texas became the nation's most prolific generator of wind power in the past decade, but the industry's future growth will depend on tax incentives to make it cost competitive and new transmission lines to get electricity to consumers.
Southwest Economy , Issue Q3 , Pages 15

Journal Article
Back-to-school bonanza of boondoggle? : Virginia joins sales-tax holiday bandwagon

Econ Focus , Volume 10 , Issue Sum , Pages 12-13

Journal Article
Roll the credits … and the tax incentives

Cities, states and even countries spar for film production business, but at what cost?
Fedgazette , Volume 18 , Issue Sep , Pages 14-15

Working Paper
Job creation tax credits and job growth: whether, when, and where?

This paper studies the effects of Job Creation Tax Credits (JCTCs) enacted by U.S. states over the past 20 years. First, we investigate whether JCTCs stimulate within-state job growth. Second, we assess from where any increased employment comes from ? in-state or out-of-state? Third, we evaluate when JCTCs' effects occur. In particular, we test for negative anticipation effects between JCTC enactment and when legislation goes into effect. We investigate these questions using a difference-in-differences estimator applied to monthly panel data on employment, the JCTC value, the JCTC effective ...
Working Paper Series , Paper 2010-25

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