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Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Grossmann, Volker | en |
dc.contributor.author | Strulik, Holger | en |
dc.date.accessioned | 2008-02-28 | - |
dc.date.accessioned | 2009-07-28T08:29:56Z | - |
dc.date.available | 2009-07-28T08:29:56Z | - |
dc.date.issued | 2008 | - |
dc.identifier.uri | http://hdl.handle.net/10419/26280 | - |
dc.description.abstract | Inheritance taxes may induce heirs to discontinue family firms. Because firm dissolution incurs transaction costs, a preferential tax treatment of transferred family businesses seems to be desirable from a macroeconomic viewpoint. The support of dynastic succession, however, entails also a cost on the economy if firm continuation by less able heirs prevents entry into entrepreneurship. Here, we investigate analytically and quantitatively the trade-off between transaction costs saved and creative destruction prevented. We find that a unique general equilibrium exists at which, depending on the institutional setup, low-ability heirs either abandon (Type 1) or continue (Type 2) a family business. A calibration of the model with German data suggests that preferential tax treatment of family firms has severe negative consequences on macroeconomic performance if it causes a threshold crossing from Type 1 to Type 2 equilibrium. It also reveals that the targeted persons, i.e. the entrepreneurs that are caused to continue a business, always lose relative to their status in an economy without continuation-friendly tax policy. | en |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x2235 | en |
dc.subject.jel | H25 | en |
dc.subject.jel | L26 | en |
dc.subject.jel | J24 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | bequest taxation | en |
dc.subject.keyword | creative destruction | en |
dc.subject.keyword | entrepreneurship | en |
dc.subject.keyword | family firms | en |
dc.subject.keyword | preferential tax treatment | en |
dc.subject.stw | Steuerbegünstigung | en |
dc.subject.stw | Familienunternehmen | en |
dc.subject.stw | Betriebsübergang | en |
dc.subject.stw | Unternehmer | en |
dc.subject.stw | Innovation | en |
dc.subject.stw | Transaktionskosten | en |
dc.subject.stw | Allgemeines Gleichgewicht | en |
dc.subject.stw | Deutschland | en |
dc.title | Should continued family firms face lower taxes than other estates? | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 559092016 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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