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Incorporation, and Productivity / Robert J. Barro, Brian Wheaton.
- Format:
- Book
- Author/Creator:
- Barro, Robert J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w25508.
- NBER working paper series no. w25508
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- Corporate versus pass-through status trades off benefits (perpetual identity, limited liability, public trading, earnings retention) against tax wedges, estimated from U.S. taxes on corporate profits, dividends, and partnership income. In regressions, C-corporate economic shares decline with the wedge and exhibit negative trends related to legal changes for LLCs. A calibrated model, fit to TFP and corporate shares, implies that, for 1958-2013, the declining wedge and gap between corporate and pass-through productivity contributed 0.37% per year of a TFP growth rate of 1.09%. From 1994 to 2004, the falling productivity gap contributed 0.77% per year to the TFP growth of 2.00%.
- Notes:
- Print version record
- January 2019.
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