Taxes and the global allocation of capital / David Backus, Espen Henriksen, Kjetil Storesletten
- Backus, David
- Cambridge, Mass. : National Bureau of Economic Research, 
- Copyright Date:
- Physical Description:
- 28 pages : illustrations ; 22 cm.
- Additional Creators:
- Henriksen, Espen, Storesletten, Kjetil, and National Bureau of Economic Research
Full Text available online
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- NBER working paper series ; working paper no. 13624
- 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.
- "November 2007."
- Bibliography Note:
- Includes bibliographical references (pages 21-22).
- Other Forms:
- Also available in PDF from the NBER world wide web site (www.nber.org).
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