Capital taxation during the U.S. Great Depression
By: Ellen R. McGrattan
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 16588; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16588.
Publisher: National Bureau of Economic Research
Published: 2010
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "Previous studies of the U.S.  Great Depression find that increased taxation contributed little to either the dramatic downturn or the slow recovery.  These studies include only one type of capital taxation: a business profits tax.  The contribution is much greater when the analysis includes other types of capital taxes.  A general equilibrium model extended to include taxes on dividends, property, capital stock, and excess and undistributed profits predicts patterns of output, investment, and hours worked more like those in the 1930s than found in earlier studies.  The greatest effects come from the increased tax on corporate dividends"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 3/31/2011.

Includes bibliographical references.

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