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Investment. In 3 vol. Vol. 2. Tax policy and the cost of capital

Опубликовано на портале: 16-06-2006
Cambridge, Mass: MIT Press, 1996, V. 2, 468 с.
Tax Policy and the Cost of Capital is devoted to the cost of capital approach to tax policy. This approach has supplied an important intellectual impetus for reforms of capital income taxation in the United States and around the world. Widespread applications of the cost of capital and the closely related concept of the marginal effective tax rate are due to the fact that these concepts facilitate the representation of economically relevant features of complex tax statutes in a highly succinct form.

These studies of the cost of capital will inspire and guide policy-makers who share the goal of making the allocation of capital in a market economy more efficient. A comprehensive treatment of the cost-of-capital approach for analysis of the economic impact of tax policy. Explains why this particular approach should be the first choice, and which avenues for tax reforms are suggested by this approach.
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    List of Sources

  1. Tax Policy and Investment Behavior
    Robert E. Halland, Dale W. Jorgenson
      1.1 Tax Policy and the Cost of Capital Services
      1.2 Estimates of the parameters of the Investment Function
      1.3 The Effects of Tax Policy on Investment Behavior
      1.4 Conclusion

  2. Application of the Theory of Optimum Capital Accumulation
    Robert E. Hall and Dale W. Jorgenson
      2.1 Theory of Investment Behavior
      2.2 Econometrics of Investment behavior
      2.3 Estimates of the parameters of the Investment Functions
      2.4 Impact of Tax Policy on Investment behavior
      2.5 Conclusion

  3. Technology and Decision Rules in the Theory of Investment Behavior
    Dale W. Jorgenson
      3.1 Introduction
      3.2 Technology
      3.3 Objective Function
      3.4 Optimal Investment Policy
      3.5 Decision Rules
    4 The Economic Impact of Investment Incentives
    Dale W. Jorgenson
      4.1 Introduction
      4.2 Postwar Investment Incentives in the U.S.
      4.3 The Economic Analysis of Investment Incentives
      4.4 Current Policy Alternatives
      4.5 Direct Impact
      4.6 Total Impact
      4.7 Conclusion
      Technical Appendix

  4. The Economic Theory of Replacement and Depreciation
    Dale W. Jorgenson
      5.1 Introduction
      5.2 Replacement
      5.3 Depreciation
      5.4 Form of the Replacement distribution
      5.5 Summary and Conclusion

  5. Investment and production: A Review
    Dale W. Jorgenson
      6.1 Introduction
      6.2 Form of the Production Function: Cross Sections
      6.3 Form of the Production Function: Time Series
      6.4 Returns to Scale
      6.5 Conclusion

  6. The Investment Tax Credit and Counter-Cyclical Policy
    Roger H. Gordon and Dale W. Jorgenson
      7.1 Summary
      7.2 Introduction
      7.3 Impact of the Investment Tax Credit
      7.4 Alternative Investment Tax Credits
      7.5 Conclusion
      Appendix A: The Investment Equation
      Appendix B: Optimization Procedures

  7. Inflation-Proof Depreciation of Assets
    Alan J. Auerbach and Dale W. Jorgenson
      8.1 The First-Year System...
      8.2 Administrative Aspects
      8.3 ... Against Two Others
      8.4 Future Economic Impact
      8.5 A Better Way

  8. Inflation and Corporate Capital Recovery
    Dale W. Jorgenson and Martin A. Sullivan
      9.1 Introduction
      9.2 Theoretical Framework
      9.3 Empirical Implementation
      9.4 Capital Recovery During the Postwar Period
      9.5 Proposed Systems for Capital Recovery
      9.6 Conclusions

  9. The Efficiency of Capital Allocation
    Dale W. Jorgenson and Kun-Young Yun
      10.1 Introduction
      10.2 Technology and Preferences
      10.3 General Equilibrium Model
      10.4 Conclusion
      Appendix: List of Instrumental Variables

  10. Tax Policy and Capital Allocation
    Dale W. Jorgenson and Kun-Young Yun
      11.l Introduction
      11.2 Tax policy
      11.3 Technology and preferences
      11.4 General Equilibrium Model
      11.5 Tax Reform
      11.6 Conclusion
      Appendix: List of Instrumental Variables

  11. Tax Reform and U.S. Economic Growth
    Dale W. Jorgenson and Kun-Young Yun
      12.1 Introduction
      12.2 Tax Reform
      12.3 Effective Tax Rates
      12.4 Economic Growth
      12.5 Conclusion

  12. The Excess Burden of Taxation in the U.S.
    Dale W. Jorgenson and Kun-Young Yun
      13.1 Introduction
      13.2 Analytical Framework
      13.3 Efficiency Costs of Taxation
      13.4 Conclusion


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См. также:
James H. Lorie, Leonard J. Savage
Journal of Business. 1955.  Vol. 28. No. 4. P. 229-239. 
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Journal of Financial Economics. 1974.  Vol. 4. No. 1. P. 337-52 . 
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Franco Modigliani, Merton H. Miller
American Economic Review. 1958.  Vol. 48. No. 3. P. 261-297. 
Andrew A. Samwick
Empirical Foundations of Household Taxation. 1996.  P. 193-226.