CORPORATE-TAXATION, RETAINED EARNINGS, AND CAPITAL FORMATION

被引：6

作者：

BHATIA, KB

机构：

[1] UNIV LONDON UNIV COLL,LONDON WC1E 6BT,ENGLAND

[2] UNIV LONDON LONDON SCH ECON & POLIT SCI,LONDON WC2A 2AE,ENGLAND

来源：

JOURNAL OF PUBLIC ECONOMICS | 1979年 / 11卷 / 01期

关键词：

D O I：

10.1016/0047-2727(79)90049-5

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

How retained corporate profits affect capital formation is the subject of the paper. A distributed-lag model is set up to relate corporate saving to household consumption, rather than saving, because of deficiencies in saving data. Alternative equations, estimated from aggregate U.S. data for 1948-74, strongly suggest that undistributed corporate profits have no independent influence on consumption. Their effect, if any, works via expected capital gains which are treated as a component of wealth by households in making spending decisions. Implications of these results for tax policy, especially for integrating personal and corporate taxation, are also discussed. © 1979.

引用

页码：123 / 134

页数：12

共 19 条

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