American Economic Journal: Economic Policy · 2025 · Andreas Lichter、Max Löffler、Ingo E. Isphording、Thu-Van Nguyen、Felix Poege、Sebastian Siegloch
中文摘要
我们研究利润税如何影响机构的研发活动。依托德国二十余年间研发活跃企业的详细面板数据，我们利用了超过10,000次地方营业税税率的市镇变动，以及具有地方差异化效应的联邦税制改革所带来的识别变异。使用事件研究方法，我们发现利润税对机构总研发支出和已申请专利具有相当大的负向影响。深入考察创新生产过程后，我们发现利润税的影响在各类研发投入要素、企业特征以及不同类型研究项目之间存在相当大的异质性。（JEL D22, G32, H25, H32, H71, O31, O34）
Abstract
We study how profit taxes affect establishments’ R&D activities. Relying on detailed panel data of R&D-active firms in Germany over two decades, we exploit identifying variation induced by more than 10,000 municipal changes in the local business tax rate and federal tax reforms with locally varying effects. Using event-study techniques, we find a sizable, negative effect of profit taxes on establishments’ total R&D spending and patents filed. Zooming into the innovation production process, we uncover substantial heterogeneity in the impact of profit taxation for various R&D input factors, among firm characteristics, and for different types of research projects. (JEL D22, G32, H25, H32, H71, O31, O34)