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Dividend taxes and investment during the U.S. Great Depression

Lunan Jiang

Economics Letters, 2018, vol. 167, issue C, 147-151

Abstract: This paper builds an Aiyagari model calibrated to the US economy in the 1930s and shows that the household precautionary saving motives can tremendously mitigate the investment decline possibly caused by the anticipated dividend tax increases during the Great Depression.

Keywords: Dividend taxes; Precautionary savings; Investment; The U.S. Great Depression (search for similar items in EconPapers)
JEL-codes: D52 E23 E44 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1016/j.econlet.2018.03.024

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