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Durability of Capital Goods: Taxes and Market Structure

Artur Raviv and Eitan Zemel
Econometrica
Vol. 45, No. 3 (Apr., 1977), pp. 703-718
Published by: The Econometric Society
DOI: 10.2307/1911683
Stable URL: http://www.jstor.org/stable/1911683
Page Count: 15
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Durability of Capital Goods: Taxes and Market Structure
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Abstract

This paper examines the durability of capital goods produced under different market structures when tax considerations are included. Since investment tax credit and depreciation allowances are realized by the owner of the durable good, the durability of products produced by an industry which sells its output differs from that of an industry which rents. For each of these two commercial forms we consider both monopolistic and competitive market structure. Potential gains from different forms of regulation are discussed.

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