Tax Reform, Interest Rates and Capital Allocation
The impacts of four major tax reform proposals on the level of interest rates and the allocation of the American capital stock are derived. The four plans are Bradley-Gephardt, Kemp-Kasten, Treasury I and Treasury II. The allocation is among seven types of nonresidential capital, rental housing, and owner occupied housing held by households in five different income classes.The inflation-neutrality of the four plans as also deduced.
|Date of creation:||Sep 1985|
|Date of revision:|
|Publication status:||published as Hendershott, Patric H. "Tax Reform, Interest Rates and Capital Allocation," Tax Reform and Real Estate, Follain (ed.) The Urban Institute, 1986, pp. 2 7-57.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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"Taxes and the User Cost of Capital for Owner-Occupied Housing,"
NBER Working Papers
0929, National Bureau of Economic Research, Inc.
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"The Taxation of Risky Assets,"
Journal of Political Economy,
University of Chicago Press, vol. 92(1), pages 20-39, February.
- Don Fullerton, 1985. "The Indexation of Interest, Depreciation, and Capital Gains: A Model ofInvestment Incentives," NBER Working Papers 1655, National Bureau of Economic Research, Inc.
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