Higher corporate taxes stifle innovation: Minneapolis Fed paper
A Minneapolis Federal Reserve paper, published on Tuesday (October 11), says policies that tax corporate profits and make it more costly for firms to start up or operate have a negative influence on innovation.
Andrew Atkeson and Ariel Burstein, the paper's authors, establish a benchmark model of innovation that measures the long-run macroeconomic impact of a range of innovation policy options. They examine which policy options are most successful in spurring innovation at companies, given their
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