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BPEA Article

A Reconsideration of Investment Behavior Using Tax Reforms as Natural Experiments

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ECONOMISTS and policymakers have long been interested in measuring
the effects of changes in the returns to and costs of business fixed investment.
That interest reflects both theoretical and practical concerns,
which have stimulated a large body of empirical research using aggregate
and micro-level data. This literature has reached few unambiguous

R. Glenn Hubbard

Dean and Russell L. Carson Professor of Finance and Economics - Columbia Business School


Robert E. Hall

Robert and Carole McNeil Joint Hoover Senior Fellow and Professor of Economics - Stanford University

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