Green Tax Reform, Endogenous Innovation and the Growth Dividend

Green Tax Reform in Sweden: The Second Dividend and the Cost of Tax Exemptions

This study assesses the cost of achieving pollution reductions using environmental taxes relative to using non-revenue-raising instruments. The cost of tax exemptions with or without employment constraints is also examined. Using a computable general equilibrium model of the Swedish economy a wide range of emission reduction target levels are examined. The study finds that the reduction of CO2 ...

Capital Tax Reform and the Real Economy: The Effects of the 2003 Dividend Tax Cut

This paper tests whether the 2003 dividend tax cut—one of the largest reforms ever to a US capital tax rate—stimulated corporate investment and increased labor earnings, using a quasi-experimental design and US corporate tax returns from years 1996–2008. I estimate that the tax cut caused zero change in corporate investment and employee compensation. Economically, the statistical precision chal...

Tax Reform to Foster Innovation in Brazil

Business Tax Reform and Economic Growth

It is great to come back to NYU Law and especially fitting to be discussing business tax reform with all of you. Nearly a decade ago I co-taught the tax colloquium with Dan Shaviro. I am not sure how much anyone learned from me but I learned a huge amount from the NYU community and Dan in particular. And that learning continued in my close partnership with David Kamin for several years in the W...

Dividend Tax Capitalization and Liquidity

We provide a new explanation for cross-sectional variation in dividend tax capitalization. Our analysis is twofold. First, we conduct a theoretical analysis that shows that liquidity (illiquidity) mitigates (magnifies) the positive effect of dividend taxes on expected rates of return documented in prior literature. Second, we conduct an empirical analysis centered around the Jobs and Growth Tax...