WorldCat Identities
Fri Mar 21 17:08:03 2014 UTClccn-n886182980.00Explaining underutilization of tax depreciation deductions : empirical evidence from Norway /0.890.95A simple, consistent estimator for disturbance components in financial models18308836n 886182982224023Mac Kie-Mason, Jeffrey K.Mason, Jeffrey K. Mackielccn-n79139286National Bureau of Economic Researchlccn-n97053832Waterman, David1947-lccn-n82252620Gordon, Roger H.(Roger Hall)1949-nc-national bureau of economic researchNational Bureau of Economic Researchlccn-n86005279Miron, Jeffrey A.lccn-no95017187Beaulieu, J. Josephlccn-n87899462Levinsohn, James1958-np-lee, christopher$1973Lee, Christopher1973-lccn-no2002093383Lougee, Wendy Pradtlccn-n50069343Stockholms universitetInstitutet för internationell ekonomiMacKie-Mason, Jeffrey K.Conference proceedingsInternetCorporations--Taxation--Mathematical modelsTelephoneMass mediaTelecommunication policyUnited StatesCorporations, American--TaxationBusiness enterprises--TaxationCorporations--Finance--Decision makingInternational business enterprises--TaxationInvestments, Foreign--TaxationBusiness cyclesSeasonal variations (Economics)Industries--FinanceCorporations--TaxationMineral industries--TaxationCorporate debtCorporations--FinanceDouble taxationCorporations--Taxation--Law and legislationBusiness enterprisesTelecommunication systemsEconometrics--Mathematical modelsEconometric modelsEconometricsDigital libraries--Economic aspectsEquity--Mathematical modelsCapital assets pricing modelDepreciation allowancesCapital investments--Mathematical modelsNorwayTaxation--Law and legislationTax deductions1988198919901991199219931994199819992003200820136171572384HB1ocn2463388421967ocn039210130book19980.84MacKie-Mason, Jeffrey KTelephony, the Internet, and the media : selected papers from the 1997 Telecommunications Policy Research ConferenceConference proceedingsCommemorating the 25th anniversary of the Telecommunications Policy Research Conference (TPRC), this volume begins with an historical survey of a quarter-century of TPRC meetings as one measure of change in and research about the telecommunications industry. Following that are 14 additional papers which reflect the ongoing pace of change in technological, economic, and policy issues. Collectively, these papers from the 1997 TPRC assess key issues for scholars, policy-makers, and practitioners+-+2606830535599ocn027449180book19920.90Gordon, Roger HTax distortions to the choice of organizational formIncome from corporate and noncorporate firms is treated very differently under the tax law. To what degree do firms change their form of organization in response? Since the relative tax treatment depends on the tax bracket of the investor, the answer will vary by the bracket of the owners. To estimate the role of taxes, we estimate what size the nontax advantage to incorporating must take in each industry so that forecasted choices for organizational form, aggregated over investors in different tax brackets, are consistent with the aggregate evidence. While these nontax costs can be large, noncorporate activity tends to be concentrated in industries where these costs are small, leading to little excess burden from the tax distortion to organizational form4611ocn071823328book19890.95Levinsohn, JamesA simple, consistent estimator for disturbance components in financial modelsMany recent papers have estimated components of the disturbance term in the "market model" of equity returns. In particular, several studies of regulatory changes and other policy events have decomposed the event effects in order to allow for heterogeneity across firms. In this paper we demonstrate that the econometric method applied in some papers yields biased and inconsistent estimates of the model parameters. We demonstrate the consistency of a simple and easily-implemented alternative method457ocn024341280book19910.95MacKie-Mason, Jeffrey KTaxes and the choice of organizational form455ocn023659497book19910.93Beaulieu, J. JosephWhy do countries and industries with large seasonal cycles also have large business cycles?We show there is a strong, positive correlation across countries and industries between the standard deviation of the seasonal component and the standard deviation of the non-seasonal component of aggregate variables such as output, labor input, interest rates, and prices. After documenting this stylized fact, we discuss possible explanations and develop a model that generates our empirical finding. The main feature of the model is that firms endogenously choose their degree of technological flexibility as a function of the amounts of seasonal and non-seasonal variation in demand. Although this model is intended to be illustrative, we find evidence supporting one of its key empirical implications4415ocn070045733com19930.88Gordon, Roger HWhy is there corporate taxation in a small open economy? : the role of transfer pricing and income shiftingSeveral recent papers argue that corporate income taxes should not be used by small, open economies. With capital mobility, the burden of the tax falls on fixed factors (e.g., labor), and the tax system is more efficient if labor is taxed directly. However, corporate taxes not only exist but rates are roughly comparable with the top personal tax rates. Past models also forecast that multinationals should not invest in countries with low corporate tax rates, since the surtax they owe when profits are repatriated puts them at a competitive disadvantage. Yet such foreign direct investment is substantial. We suggest that the resolution of these puzzles may be found in the role of income shifting, both domestic (between the personal and corporate tax bases) and cross-border (through transfer pricing). Countries need cash-flow corporate taxes as a backstop to labor taxes to discourage individuals from converting their labor income into otherwise untaxed corporate income. We explore how these taxes can best be modified to deal as well with cross-border shifting424ocn020268525book19890.95MacKie-Mason, Jeffrey KDo firms care who provides their financing?Abstract: sources of financial capital are documented, and a large sample of incremental393ocn021121412book19900.95Gordon, Roger HEffects of the Tax Reform Act of 1986 on corporate financial policy and organizational formAbstract: experience. The change in debt/value ratios has been substantially smaller than expected352ocn039951656book19990.81MacKie-Mason, Jeffrey KTelecommunications guide to the Internet+-+5651230135242ocn018278828book19880.94MacKie-Mason, Jeffrey KNonlinear taxation of risky assets and investment, with application to miningAn intertemporal capital asset valuation approach is applied to analyzing the effects of nonlinear taxes on asset values and optimal investment decisions. The method is quite general, and is illustrated both analytically and numerically, The paper studies the effects of nonlinearities in the corporate income tax, including the percentage depletion allowance, on mine values and investment decisions. Although the tax policies are found to have the expected effects on asset values, the effects on investment decisions are sometimes perverse. An increase in the income tax rate may encourage investment; an increase in the depletion allowance subsidy may discourage investment243ocn018320272book19880.94MacKie-Mason, Jeffrey KDo taxes affect corporate financing decisions?A new empirical method and data set are used to study the effects of tax policy on corporate financing choices. Clear evidence emerges that non-debt tax shields "crowd out" interest deductibility, thus decreasing the desirability of debt issues at the margin. Previous studies which failed to find tax effects examined debt-equity ratios rather than individual, well-specified financing choices. This paper also demonstrates the importance of controlling for confounding effects which other papers ignored. Results on other (asymmetric information) effects on financing decisions are also presented111ocn262559110com20080.95Economics and usage of digital libraries byting the bullet61ocn756570677com19910.63How Much Do Taxes Discourage IncorporationOne of the most basic distortions created by the double taxation of corporate income is the disincentive to incorporate. In this paper, we investigate the extent to which the aggregate allocation of assets and taxable income in the U.S. between corporate vs. noncorporate forms of organization during the period 1959-86 has responded to the size of the tax distortion discouraging firms from incorporating. In theory, profitable firms should shift out of the corporate sector when the tax distortion to incorporating is larger, and conversely for firms with tax losses. Our empirical results provide strong support for these theoretical forecasts, and hold consistently across a wide variety of specifications and measures of the tax variables. Measured effects are small, however, throwing doubt on the economic importance of tax-induced changes in organizational form11ocn223764125book2003Aarbu, Karl OveExplaining underutilization of tax depreciation deductions : empirical evidence from Norway01ocn256734653book1993Borenstein, SeverinThe economics of customer lock-in and market power in services+-+2606830535+-+2606830535Fri Mar 21 15:58:15 EDT 2014batch14515