Arbeitspapier
Corporate taxes, productivity, and business dynamism
We identify the effects of corporate income tax shocks on key US macroeconomic aggregates. In response to a corporate income tax cut, we find that: (i) labor productivity increases; (ii) entry increases with delay; (iii) exit increases; (iv) total labor increases by more than production labor. To rationalize these empirical findings, we build a New Keynesian model with idiosyncratic firm productivity, and entry and exit. Our model features productivity gains due to selection and cleansing along the entry and exit margins. Models with homogeneous firms fail to account for the selection and cleansing process and produce counterfactual results.
- ISBN
-
978-3-95729-947-5
- Sprache
-
Englisch
- Erschienen in
-
Series: Deutsche Bundesbank Discussion Paper ; No. 16/2023
- Klassifikation
-
Wirtschaft
Fiscal Policy
Business Fluctuations; Cycles
Business Taxes and Subsidies including sales and value-added (VAT)
- Thema
-
corporate taxation
productivity
firm entry and exit
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Colciago, Andrea
Lewis, Vivien
Matyska, Branka
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsche Bundesbank
- (wo)
-
Frankfurt a. M.
- (wann)
-
2023
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Colciago, Andrea
- Lewis, Vivien
- Matyska, Branka
- Deutsche Bundesbank
Entstanden
- 2023
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