Firm investment, corporate finance and taxation /
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Author / Creator: | Palomba, Geremia. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, ©2002. |
Description: | 1 online resource (45 pages) : illustrations |
Language: | English |
Series: | IMF working paper, 2227-8885 ; WP/02/237 IMF working paper ; WP/02/237. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12497029 |
Other authors / contributors: | International Monetary Fund. Fiscal Affairs Department. |
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ISBN: | 1283552450 9781283552455 9781451920321 1451920326 1462322417 9781462322411 1452778280 9781452778280 9786613864901 6613864900 |
Notes: | Cover title. "December 2002"--Page 1 At head of title: Fiscal Affairs Department. Includes bibliographical references (pages 44-45). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record. |
Summary: | This paper examines the intertemporal effect of corporate income taxation on the investment behavior of a firm that faces imperfect capital markets. It shows that when capital markets are imperfect, the optimizing firm goes through different phases of growth. In this dynamic setting, the effect of a corporate tax on profits varies over time. An increase in the corporate profit tax rate initially reduces investment, but the effect is reversed over time as the firm adjusts its financing policy to the new tax rate. |
Other form: | Print version: Palomba, Geremia. Firm investment, corporate finance and taxation. [Washington, D.C.] : International Monetary Fund, ©2002 |
Standard no.: | 10.5089/9781451920321.001 |
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