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.|
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- Jeremy I. Bulow & Lawrence H. Summers, 1982.
"The Taxation of Risky Assets,"
NBER Working Papers
0897, National Bureau of Economic Research, Inc.
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- Patric H. Hendershott & Joel Slemrod, 1982.
"Taxes and the User Cost of Capital for Owner-Occupied Housing,"
Real Estate Economics,
American Real Estate and Urban Economics Association, vol. 10(4), pages 375-393.
- Patric H. Hendershott & Joel Slemrod, 1982. "Taxes and the User Cost of Capital for Owner-Occupied Housing," NBER Working Papers 0929, National Bureau of Economic Research, Inc.
- Alan J. Auerbach, 1983. "Corporate Taxation in the United States," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 14(2), pages 451-514.
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