Matches in SemOpenAlex for { <https://semopenalex.org/work/W3143622024> ?p ?o ?g. }
Showing items 1 to 57 of
57
with 100 items per page.
- W3143622024 abstract "Over the years, optimal taxation has been extensively discussed, and a major focus has been on the question of whether the optimal capital income tax rate is zero in long-run equilibrium. This paper addresses this issue in the context of a model of vintage capital with technical change and the entry and exit of new plants. It considers the optimal combinations of three taxes, including taxes on capital income, labor income, and property. The tax base for the property tax is plant value, which is determined by the plant’s productivity. Each plant is endowed with one unit of capital, which cannot be replaced or upgraded during the plant’s lifetime, although plant productivity is a combination of the vintage of capital and learning by doing. The tax base for the property tax is relatively large compared to that for capital income. There is a trade-off between these two rates in that a much lower tax rate on property is needed to satisfy a given level of government expenditure, while on the other hand the property tax rate has an effect on the exit threshold of plants and hence on the distribution of plant productivity. In this model there are two types of plants. One type is complete and able to produce the final good, while the other type is under development process and subject to a time-to-build constraint. Only the producing plant is subject to the property tax. In the steady state this paper documents interesting interactions between the capital income tax and the property tax. One special case of interest is the optimal capital income tax rate given different level of exogenous government expenditure when the property tax rate is fixed at zero. (Government expenditure is assumed to be unproductive.) Subsidies on capital income and property are considered. In addition to looking at the steady state, transitional paths including exit and entry rates of plants, and social welfare, are derived under two situations, one in which there is a shock to embodied technology, and one in which there is a shock to the path of exogenous government expenditures. Some results to date indicate that for a large range of values the steady state optimal tax rates include a positive tax on property matched with a subsidy to capital income" @default.
- W3143622024 created "2021-04-13" @default.
- W3143622024 creator A5043123005 @default.
- W3143622024 creator A5079959101 @default.
- W3143622024 date "2005-01-01" @default.
- W3143622024 modified "2023-09-24" @default.
- W3143622024 title "Tax Policies, Vintage Capital, and Entry and Exit of Plants" @default.
- W3143622024 hasPublicationYear "2005" @default.
- W3143622024 type Work @default.
- W3143622024 sameAs 3143622024 @default.
- W3143622024 citedByCount "0" @default.
- W3143622024 crossrefType "posted-content" @default.
- W3143622024 hasAuthorship W3143622024A5043123005 @default.
- W3143622024 hasAuthorship W3143622024A5079959101 @default.
- W3143622024 hasConcept C145236788 @default.
- W3143622024 hasConcept C162324750 @default.
- W3143622024 hasConcept C166957645 @default.
- W3143622024 hasConcept C175444787 @default.
- W3143622024 hasConcept C2779755355 @default.
- W3143622024 hasConcept C556758197 @default.
- W3143622024 hasConcept C83646750 @default.
- W3143622024 hasConcept C95457728 @default.
- W3143622024 hasConceptScore W3143622024C145236788 @default.
- W3143622024 hasConceptScore W3143622024C162324750 @default.
- W3143622024 hasConceptScore W3143622024C166957645 @default.
- W3143622024 hasConceptScore W3143622024C175444787 @default.
- W3143622024 hasConceptScore W3143622024C2779755355 @default.
- W3143622024 hasConceptScore W3143622024C556758197 @default.
- W3143622024 hasConceptScore W3143622024C83646750 @default.
- W3143622024 hasConceptScore W3143622024C95457728 @default.
- W3143622024 hasLocation W31436220241 @default.
- W3143622024 hasOpenAccess W3143622024 @default.
- W3143622024 hasPrimaryLocation W31436220241 @default.
- W3143622024 hasRelatedWork W1511844052 @default.
- W3143622024 hasRelatedWork W1516778248 @default.
- W3143622024 hasRelatedWork W1550215847 @default.
- W3143622024 hasRelatedWork W1595173000 @default.
- W3143622024 hasRelatedWork W1968224235 @default.
- W3143622024 hasRelatedWork W1988725000 @default.
- W3143622024 hasRelatedWork W2054886959 @default.
- W3143622024 hasRelatedWork W211326822 @default.
- W3143622024 hasRelatedWork W2121906226 @default.
- W3143622024 hasRelatedWork W2130497023 @default.
- W3143622024 hasRelatedWork W2139763484 @default.
- W3143622024 hasRelatedWork W2244270290 @default.
- W3143622024 hasRelatedWork W2246368850 @default.
- W3143622024 hasRelatedWork W2920765465 @default.
- W3143622024 hasRelatedWork W3122945451 @default.
- W3143622024 hasRelatedWork W3123836054 @default.
- W3143622024 hasRelatedWork W3124263816 @default.
- W3143622024 hasRelatedWork W3124570695 @default.
- W3143622024 hasRelatedWork W3124973324 @default.
- W3143622024 hasRelatedWork W746083110 @default.
- W3143622024 isParatext "false" @default.
- W3143622024 isRetracted "false" @default.
- W3143622024 magId "3143622024" @default.
- W3143622024 workType "article" @default.