The Significance of Tax Law Asymmetries: An Empirical Investigation
利用1971-1982年美国非金融公司纳税申报数据，估计税收抵免和亏损退税限制的影响，发现未使用税收优惠在80年代初显著增加，但并非由投资激励增加导致。
This study uses tax return data for U. S. nonfinancial corporations for the period 1971–1982 to estimate the importance of restrictions on the ability of firms to use tax credits and to obtain refunds for tax losses. Our results suggest that the incidence of such unused tax benefits increased substantially during the early 1980s, though we do not find these increases attributable to increased investment incentives during that period. We present estimates of the marginal tax rate on interest payments which take into account unused tax benefits and emphasize the importance of distinguishing current tax payments from marginal tax rates in estimating the incentive to invest.