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Effective Tax Rates and the User Cost of Capital when Interest Rates are Low

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dc.contributor.author Creedy, John
dc.contributor.author Gemmell, Norman
dc.date.accessioned 2022-07-11T21:36:24Z
dc.date.accessioned 2017-12-06T21:40:12Z
dc.date.available 2022-07-11T21:36:24Z
dc.date.available 2017-12-06T21:40:12Z
dc.date.copyright 2017
dc.date.issued 2017
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/20292
dc.description.abstract Interest rates are a key component of both user cost and effective tax rate measures of company taxation, and each is regularly used in empirical tests of tax impacts on investment. However, it is shown that when interest rates are low the two measures are not monotonically related. Using a simulated sample of observations, this feature is found to generate perverse estimates of the effects of taxation on the investment plans of firms. en_NZ
dc.format pdf en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.relation.ispartofseries Working Papers in Public Finance ; 02/2017 en_NZ
dc.subject Interest rates en_NZ
dc.subject Company taxation en_NZ
dc.subject Business taxes en_NZ
dc.subject Investment en_NZ
dc.title Effective Tax Rates and the User Cost of Capital when Interest Rates are Low en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Accounting and Commercial Law en_NZ
vuwschema.subject.anzsrcfor 140399 Econometrics not elsewhere classified en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
vuwschema.subject.anzsrcforV2 380299 Econometrics not elsewhere classified en_NZ
dc.rights.rightsholder www.victoria.ac.nz/sacl/about/cpf en_NZ

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