MIAO, JIANJUN; WANG, PENGFEI - In: Journal of Money, Credit and Banking 46 (2014) 6, pp. 1171-1203
In the presence of both convex and nonconvex capital adjustment costs in a dynamic general equilibrium model, corporate tax policy generates both intensive and extensive margin effects via the channel of marginal Q. Its impact is determined largely by the strength of the extensive margin effect,...