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The impact of investment incentives: Evidence from UK corporation tax returns

Abstract:

Using UK corporation tax returns, we provide evidence on the effects of accelerated depreciation allowances on investment, exploiting exogenous changes in the qualifying thresholds for first-year depreciation allowances (FYAs) in 2004. The investment rate of qualifying companies increased by 2.1–2.5 percentage points relative to those that did not qualify. We exploit variation in the timing of tax payments to show that this effect is primarily due to the change in the cost of capital, rather ...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted Manuscript

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Publisher copy:
10.1257/pol.20170254

Authors


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Institution:
University of Oxford
Division:
Social Sciences Division
Department:
Said Business School
Role:
Author
More by this author
Institution:
University of Oxford
Division:
Social Sciences Division
Department:
Said Business School
Oxford college:
Oriel
Role:
Author
More from this funder
Funding agency for:
Maffini, G
Publisher:
American Economic Association Publisher's website
Journal:
American Economic Journal: Economic Policy Journal website
Volume:
11
Issue:
3
Pages:
361-389
Publication date:
2019-08-01
Acceptance date:
2018-10-29
DOI:
EISSN:
1945-774X
ISSN:
1945-7731
Pubs id:
pubs:942222
URN:
uri:a5189a47-e25d-464c-b110-5ddaafef5cb4
UUID:
uuid:a5189a47-e25d-464c-b110-5ddaafef5cb4
Local pid:
pubs:942222

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