登入選單

返回Google圖書搜尋

Investment Tax Credit in an Open Economy

Partha Sen

出版	National Bureau of Economic Research, 1990
URL	http://books.google.com.hk/books?id=xg2yAAAAIAAJ&hl=&source=gbs_api

註釋

This paper contrasts the effects of a permanent and temporary investment tax credit in an open economy. In both cases an ITC will initially stimulate investment, while reducing employment and output, and generating a current account deficit. If the ITC is permanent, the accumulation of capital leads to a higher equilibrium capital stock, higher employment and output, and a reduction in the economy's stock of net credit. If the ITC is temporary, after its removal, the economy eventually moves to a new steady-state equilibrium having a lower permanent capital stock and employment, together with a higher stock of net credit.