Corporate tax reform and business investment: Empirical estimates for structures and equipment |
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Authors: | V G Duggal F G Adams |
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Institution: | 1. Widener University, 19013, Chester, PA, USA 2. University of Pennsylvania, 3718 Locust Walk, 19104-GL97, Philadelphia, PA, USA
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Abstract: | New econometric investment equations, separating equipment from structures, are used to evaluate the impact of the 1986 tax reform law. The computations suggest that investment in equipment will be significantly reduced, largely as a consequence of the abolition of the investment tax credit. Despite longer tax lives, investment in structures may increase because of the reduction in corporate income tax rates. |
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