Tax Policy, Business Saving and Investment

该项目包括一系列相关的实证研究， 企业储蓄和企业固定资产投资的决定因素 在美国 虽然这些传统领域 积极的财政政策，仍然很少令人信服 关于各种重要主题的经验证据。 即将 研究的内容有：家庭与企业的关系 储蓄;企业固定资产投资模式分析 自1986年税收改革法案以来， 商业固定投资模式;以及审查 美国国内投资与外国投资之间的关系 在美国的直接投资。 该项目应增加我们对以下方面的了解： 财政政策能够并且已经影响了资本积累， 这是一个激烈的政策激进主义领域，但国家 经济学知识仍然主要基于理论 预测，而不是进行实证分析的类型 在这个项目下。 该项目的贡献是 特别及时和重要，因为它有助于解释最近的 美国经济环境的变化，如大幅下滑 在企业储蓄方面，来自中国的资本流入大幅增加， 国外，和业务的意外强劲表现固定 自1986年《税收改革法》颁布以来，

The project consists of a series of related empirical studies on the determinants of business saving and business fixed investment in the United States. While these are traditionally areas of activist fiscal policy, there is still very little convincing empirical evidence on a variety of important topics. Those to be studied are: the relationship between household and business saving; an analysis of the pattern of business fixed investment since the Tax Reform Act of 1986; a comparison of alternative models of business fixed investment; and an examination of the relationship between overall domestic U.S. investment and foreign direct investment in the United States. The project should increase our understanding of the extent to which fiscal policy can and has influenced capital accumulation in the U.S. This is an area of intense policy activism, but the state of economic knowledge remains largely based on theoretical predictions instead of the type of empirical analysis carried out under this project. The contribution from this project is especially timely and important because it helps explain recent changes in the U.S. economic environment, such as the sharp decline in corporate saving, the large increase in capital inflows from abroad, and the unexpected strong performance of business fixed investment since the Tax Reform Act of 1986.