Arbeitspapier
The role of the corporate income tax as an automatic stabilizer
This paper analyses the effectiveness of the corporate income tax as an automatic stabilizer. It employs a unique firm-level dataset of German manufacturers combining financial statements with firm-specific information about credit market restrictions. The results show that approximately 20 per cent of all firms report both positive taxable income and capital market restrictions. Taking account of the income tax rates and the size differences of the firms, we find that demand stabilization through the corporate income tax amounts to about 8 per cent of an initial shock to gross revenues. This stabilization effect varies over the business cycle and tends to increase during cyclical downturns.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 2798
- Klassifikation
-
Wirtschaft
Business Taxes and Subsidies including sales and value-added (VAT)
Fiscal Policies and Behavior of Economic Agents: Firm
Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- Thema
-
corporate income tax
stabilization
capital market restrictions
loss offset
firm-level data
Körperschaftsteuer
Eingebauter Stabilisator
Verarbeitendes Gewerbe
Verlust
Steuerbegünstigung
Verschuldungsrestriktion
Deutschland
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Buettner, Thiess
Fuest, Clemens
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Buettner, Thiess
- Fuest, Clemens
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2009
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