The Tax-adjusted Q Model with Intangible Assets.

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Bibliographic Details
Author / Creator:	Chen, Sophia.
Imprint:	Washington : International Monetary Fund, 2014.
Description:	1 online resource (54 pages)
Language:	English
Series:	IMF Working Papers ; v. Working Paper No. 14/104 IMF Working Papers.
Subject:	Investment tax credit -- Econometric models. Investments -- Taxation. Intangible property -- Econometric models. Investment tax credit -- Econometric models Investments -- Taxation
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12503153

Hidden Bibliographic Details
Other authors / contributors:	Dauchy, Estelle.
ISBN:	9781498308502 1498308503
Notes:	Print version record.
Summary:	We propose a tax-adjusted q model with physical and intangible assets and estimate it with a self-collected comprehensive database of intangible assets. The presence of intangibles changes the accounting and economic measures of q. We show that when tax changes are temporary, the q model can be estimated by adjusting for the firmâ??s intangible stock and intangible intensity. We estimate our model using temporary investment tax incentive policies in the United States in the early 2000s. When the q-model accounts for intangible assets, the estimated investment elasticity to tax incentives is ge.
Other form:	Print version: Chen, Sophia. Tax-adjusted Q Model with Intangible Assets: Theory and Evidence from Temporary Investment Tax Incentives. Washington : International Monetary Fund, ©2014 9781498335478

Table of Contents:

Cover; Contents; I. Introduction; II. Intangible Assets and Tax-Adjusted Q: Theory; A. The model; B. Short-run Approximations of Long-lived Assets; C. Investment Responses to a Temporary Tax Change; III. Methodology and Data; A. Bonus Depreciation Allowances; B. Methodology; Empirical Specifications; Discussion on Econometric Challenges; Estimation methods; C. Data; D. Summary Statistics; IV. Results; A. Baseline Results; B. Interpretations: The Economic Size of the Impact of Temporary Tax Incentives; V. Conclusion; Tables; 1. Variables Definitions; 2. Summary Statistics, 1998-2006.
3. System GMM Regressions, Top 500 Firms4. System GMM Regressions, Top 1500 Firms; 5. System GMM Regressions, Top 3500 Firms; 6. System GMM Regressions, All Firms.

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