TY  - JOUR
AU  - Cummins,Jason G.
AU  - Hassett,Kevin A.
AU  - Hubbard,R. Glenn
TI  - Tax Reforms and Investment: A Cross-Country Comparison
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 5232
PY  - 1996
Y2  - December 1996
UR  - http://www.nber.org/papers/w5232
L1  - http://www.nber.org/papers/w5232.pdf
N1  - Author contact info:
Jason Cummins
Brevan Howard Asset Management
Suite 250
1776 Eye Street, NW
Washington, DC 20006
Tel: 202-835-6401
E-Mail: jason.cummins@brevanhoward.com

Kevin Hassett
American Enterprise Institute
1150 Seventeenth Street, N.W.
Washington, DC 20036
E-Mail: khassett@aei.org

R. Glenn Hubbard
Graduate School of Business
Columbia University, 101 Uris Hall
3022 Broadway
New York, NY  10027
Tel: 212/854-3493
Fax: 212/864-6184
E-Mail: rgh1@columbia.edu, ws2187@columbia.edu
M2  - featured in NBER digest on 1996-03-01
AB  - We use firm-level panel data to explore the extent to which fixed investment responds to tax reforms in 14 OECD countries.  Previous studies have often found that investment does not respond to changes in the marginal cost of investment.  We identify some of the factors responsible for this finding and employ an estimation procedure that sidesteps the most important of them.  In so doing, we find evidence of statistically and economically significant investment responses to tax changes in 12 of the 14 countries.
ER  -