Investors' portfolio choice and tax reforms : the 2008 German corporate tax reform reconsidered Michael Stimmelmayr
By: Stimmelmayr, Michael
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Material type: 
ArticlePublisher: 2018Subject(s): INVERSIONES | MERCADOS FINANCIEROS | IMPUESTO DE SOCIEDADES | SOCIEDADES EXTRANJERAS | ALEMANIA | MODELOS ECONOMETRICOSOnline resources: Click here to access online
In:
FinanzArchiv v. 74, n. 3, September 2018, p. 376-414Summary: The paper provides a comprehensive assessment of the growth and welfare effects of the 2008 German corporate tax reform, which entails a shift of the capital tax burden from the firm to the household level. Using a dynamic two-country computable generale quilibrium model with integrated capital markets, the results indicate a faint growth stimulus of the reform and a negative effect on domestic welfare. In fact, the reform increased
the double taxation of equity-financed corporate investment, thereby impeding firms’ investment. Further, the reform-induced tax incentives for foreigners to invest in German equity undermines the financing of the reform.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 207/2018/3-2 (Browse shelf) | Available | OP 207/2018/3-2 |
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Resumen.
Bibliografía.
The paper provides a comprehensive assessment of the growth and welfare effects of the 2008 German corporate tax reform, which entails a shift of the capital tax burden from the firm to the household level. Using a dynamic two-country computable generale quilibrium model with integrated capital markets, the results indicate a faint growth stimulus of the reform and a negative effect on domestic welfare. In fact, the reform increased
the double taxation of equity-financed corporate investment, thereby impeding firms’ investment. Further, the reform-induced tax incentives for foreigners to invest in German equity undermines the financing of the reform.
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