BoardofGovernorsoftheFederalReserveSystemInternationalFinanceDiscussionPapersISSN1073-2500(Print)ISSN2767-4509(Online)Number1393July2024TaxHeterogeneityandMisallocationBarisKaymakandImmoSchottPleasecitethispaperas:Kaymak,Baris,andImmoSchott(2024).“TaxHeterogeneityandMisallocation,”Inter-nationalFinanceDiscussionPapers1393.Washington:BoardofGovernorsoftheFederalReserveSystem,https://doi.org/10.17016/IFDP.2024.1393.NOTE:InternationalFinanceDiscussionPapers(IFDPs)arepreliminarymaterialscirculatedtostimu-latediscussionandcriticalcomment.TheanalysisandconclusionssetfortharethoseoftheauthorsanddonotindicateconcurrencebyothermembersoftheresearchstaffortheBoardofGovernors.ReferencesinpublicationstotheInternationalFinanceDiscussionPapersSeries(otherthanacknowledgement)shouldbeclearedwiththeauthor(s)toprotectthetentativecharacterofthesepapers.RecentIFDPsareavailableontheWebatwww.federalreserve.gov/pubs/ifdp/.ThispapercanbedownloadedwithoutchargefromtheSocialScienceResearchNetworkelectroniclibraryatwww.ssrn.com.TaxHeterogeneityandMisallocation∗Barıs¸Kaymak†ImmoSchott†‡June25,2024AbstractThereissubstantialasymmetryineffectivecorporateincometaxratesacrossfirms.Whiletaxasymmetrieswouldreduceproductivityinfric-tionlesseconomies,theycanimproveefficiencyinadistortedeconomyiftaxesalleviateothereconomicfrictions.Wedevel...
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