Determining the Investment Impact of Bulgaria’s 2007 - 2008 Income Tax Reforms
Abstract
This paper provides a quantitative assessment of the 2007 - 2008 corporate and personal income tax reforms in Bulgaria. The simple investment model, based on Tobin’s q-theory is calibrated to Bulgarian data before and after the reform. Based on numerical simulations, capital stock is predicted to double over the long run.
References
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*** World Bank. 2000. Transition: The first ten years. Washington, DC: World Bank.
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