BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//CREST - ECPv5.1.3//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:CREST
X-ORIGINAL-URL:https://crest.science
X-WR-CALDESC:Events for CREST
BEGIN:VTIMEZONE
TZID:Europe/Helsinki
BEGIN:DAYLIGHT
TZOFFSETFROM:+0200
TZOFFSETTO:+0300
TZNAME:EEST
DTSTART:20220327T010000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:+0300
TZOFFSETTO:+0200
TZNAME:EET
DTSTART:20221030T010000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID=Europe/Helsinki:20220107T121500
DTEND;TZID=Europe/Helsinki:20220107T133000
DTSTAMP:20260711T220346
CREATED:20211207T050257Z
LAST-MODIFIED:20220107T082139Z
UID:13185-1641557700-1641562200@crest.science
SUMMARY:Clément MALGOUYRE  (Institut des Politiques Publiques)\,  "Follow the money! Why dividends overreact to flat-tax reforms"
DESCRIPTION:The Macroeconomics Seminar:\nTime: 12:15 pm – 13:30 pm\nDate: 07th of January  2022 \nby zoom \nClément MALGOUYRE (Institut des Politiques Publiques)\, “Follow the money! Why dividends overreact to flat-tax reforms” \nAbstract : We estimate behavioral responses to dividend taxation using two recent French reforms: a rate hike followed\, five years later\, by a cut. Exploiting tax data at household and firm-level\, we find very large dividend tax elasticities to both reforms. Individuals who control firms adjust dividends instantaneously and account for most of tax-induced changes in aggregate dividends. Their firms don’t react on the investment margin. The changes in dividends are instead driven by corporate saving\, as owner-managers treat firms as tax-free saving vehicles. In smaller businesses\, we see a negative response of profits to taxes\, consistent with the notion that firms can also be tax-free consumption vehicles. \nOrganizers:\nARNE UHLENDORFF  (CREST) \nSponsors:\nCREST \n
URL:https://crest.science/event/clement-malgouyre-institut-des-politiques-publiques-t-b-a/
CATEGORIES:Macroeconomics
ATTACH;FMTTYPE=:
END:VEVENT
END:VCALENDAR