Gourio, Francois; Miao, Jianjun - Department of Economics, Boston University - 2006
What is the long-run effect of dividend taxation on aggregate capital accumulation? To address this question, we build … traditional view of dividend taxation and other firms behaving according to the new view of dividend taxation. Specically, at any … point in time, a firm may lie in one of three finance regimes: dividend distribution regime, liquidity constrained regime …