{"id":"https://openalex.org/W1580227635","doi":"https://doi.org/10.17016/feds.2006.19","title":"A Retrospective Evaluation of the Effects of Temporary Partial Expensing","display_name":"A Retrospective Evaluation of the Effects of Temporary Partial Expensing","publication_year":2006,"publication_date":"2006-01-01","ids":{"openalex":"https://openalex.org/W1580227635","doi":"https://doi.org/10.17016/feds.2006.19","mag":"1580227635"},"language":"en","primary_location":{"id":"doi:10.17016/feds.2006.19","doi":"https://doi.org/10.17016/feds.2006.19","is_oa":true,"landing_page_url":"https://doi.org/10.17016/feds.2006.19","pdf_url":null,"source":{"id":"https://openalex.org/S4210212089","display_name":"Finance and Economics Discussion Series","issn_l":"1936-2854","issn":["1936-2854","2767-3898"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Finance and Economics Discussion Series","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://doi.org/10.17016/feds.2006.19","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5070407099","display_name":"Darrel S. Cohen","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1317239608","display_name":"Federal Reserve","ror":"https://ror.org/05fk5tr28","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I2802905149","display_name":"Federal Reserve Board of Governors","ror":"https://ror.org/00v448643","country_code":"US","type":"government","lineage":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Darrel Cohen","raw_affiliation_strings":["Board of Governors of the Federal Reserve System (U.S.)","Federal Reserve Board; Division of Research and Statistics"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Board of Governors of the Federal Reserve System (U.S.)","institution_ids":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]},{"raw_affiliation_string":"Federal Reserve Board; Division of Research and Statistics","institution_ids":["https://openalex.org/I2802905149"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5057504857","display_name":"Jason Gustav Cummins","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1317239608","display_name":"Federal Reserve","ror":"https://ror.org/05fk5tr28","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I2802905149","display_name":"Federal Reserve Board of Governors","ror":"https://ror.org/00v448643","country_code":"US","type":"government","lineage":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Jason G. Cummins","raw_affiliation_strings":["Board of Governors of the Federal Reserve System (U.S.)","Brevan Howard Asset Management LLP"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Board of Governors of the Federal Reserve System (U.S.)","institution_ids":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]},{"raw_affiliation_string":"Brevan Howard Asset Management LLP","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":3.8187,"has_fulltext":true,"cited_by_count":43,"citation_normalized_percentile":{"value":0.95031204,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"2006.0","issue":"19","first_page":"1","last_page":"25"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11508","display_name":"Corporate Taxation and Avoidance","score":0.7134000062942505,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11508","display_name":"Corporate Taxation and Avoidance","score":0.7134000062942505,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11770","display_name":"Fiscal Policy and Economic Growth","score":0.21119999885559082,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13042","display_name":"Economic and Fiscal Studies","score":0.026100000366568565,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/corporate-investment","display_name":"corporate investment","score":0.6959999799728394},{"id":"https://openalex.org/keywords/corporate-tax-policy","display_name":"corporate tax policy","score":0.5450000166893005},{"id":"https://openalex.org/keywords/capital-investment-incentives","display_name":"capital investment incentives","score":0.5509999990463257},{"id":"https://openalex.org/keywords/fixed-assets","display_name":"fixed assets","score":0.765999972820282},{"id":"https://openalex.org/keywords/capital-adjustment-costs","display_name":"capital adjustment costs","score":0.9470000267028809},{"id":"https://openalex.org/keywords/investment-smoothing","display_name":"investment smoothing","score":0.5839999914169312},{"id":"https://openalex.org/keywords/tax-expenditures","display_name":"tax expenditures","score":0.36399999260902405}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6199830174446106},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.6140403747558594},{"id":"https://openalex.org/C165404738","wikidata":"https://www.wikidata.org/wiki/Q3052487","display_name":"Partial equilibrium","level":3,"score":0.5482870936393738},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.4501745402812958},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.3617449402809143},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.35236260294914246},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3356340527534485},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.28473466634750366},{"id":"https://openalex.org/C103382277","wikidata":"https://www.wikidata.org/wiki/Q282640","display_name":"General equilibrium theory","level":2,"score":0.0872509777545929},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.17016/feds.2006.19","doi":"https://doi.org/10.17016/feds.2006.19","is_oa":true,"landing_page_url":"https://doi.org/10.17016/feds.2006.19","pdf_url":null,"source":{"id":"https://openalex.org/S4210212089","display_name":"Finance and Economics Discussion Series","issn_l":"1936-2854","issn":["1936-2854","2767-3898"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Finance and Economics Discussion Series","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.910904","doi":"https://doi.org/10.2139/ssrn.910904","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.910904","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"SSRN Electronic Journal","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:fip:fedgfe:2006-19","doi":null,"is_oa":true,"landing_page_url":"http://www.federalreserve.gov/pubs/feds/2006/200619/200619abs.html","pdf_url":"http://www.federalreserve.gov/pubs/feds/2006/200619/200619pap.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"}],"best_oa_location":{"id":"doi:10.17016/feds.2006.19","doi":"https://doi.org/10.17016/feds.2006.19","is_oa":true,"landing_page_url":"https://doi.org/10.17016/feds.2006.19","pdf_url":null,"source":{"id":"https://openalex.org/S4210212089","display_name":"Finance and Economics Discussion Series","issn_l":"1936-2854","issn":["1936-2854","2767-3898"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Finance and Economics Discussion Series","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.4000000059604645,"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth"}],"sustainable_development_goals_aurora":[{"score":0.4099999964237213,"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":11,"referenced_works":["https://openalex.org/W1535066405","https://openalex.org/W1561324832","https://openalex.org/W1574319296","https://openalex.org/W1992943625","https://openalex.org/W2067717031","https://openalex.org/W2098526104","https://openalex.org/W2152306337","https://openalex.org/W2891861059","https://openalex.org/W2891907099","https://openalex.org/W3024401113","https://openalex.org/W3124997735"],"related_works":["https://openalex.org/W1535066405","https://openalex.org/W4300771292","https://openalex.org/W2526410896","https://openalex.org/W2152306337","https://openalex.org/W7167640566","https://openalex.org/W2579974476","https://openalex.org/W3125167748","https://openalex.org/W3026020685","https://openalex.org/W4416258895","https://openalex.org/W7098279908"],"abstract_inverted_index":{"This":[0],"paper":[1],"examines":[2],"how":[3],"business":[4],"investment":[5,108,118],"responded":[6],"to":[7,26,51,71,93,121,152],"temporary":[8,172],"partial":[9,21,77,140,173],"expensing,":[10],"first":[11],"enacted":[12],"in":[13,17,44,91,117],"2002":[14],"and":[15,123,138,145],"expanded":[16],"2003.":[18],"In":[19,102,160],"principle,":[20],"expensing":[22,78,141],"boosted":[23],"the":[24,38,62,99,104,131,154,169],"incentive":[25],"invest":[27],"which":[28],"should":[29],"have":[30],"had":[31],"a":[32,45,59,95,114,124],"discernable":[33],"impact":[34],"on":[35],"spending.":[36],"However,":[37],"tax":[39,63,82,100],"changes":[40],"did":[41],"not":[42],"occur":[43],"vacuum,":[46],"so":[47],"it":[48],"is":[49],"challenging":[50],"isolate":[52],"their":[53],"impact.":[54,75],"Our":[55,128],"empirical":[56],"approach":[57],"exploits":[58],"feature":[60],"of":[61,98,107,130,133,171],"change":[64],"which,":[65],"under":[66],"certain":[67],"assumptions,":[68],"allows":[69],"us":[70],"cleanly":[72],"estimate":[73],"its":[74],"Specifically,":[76],"provided":[79],"relatively":[80],"generous":[81],"treatment":[83],"for":[84,168],"long-lived":[85],"assets.":[86],"We":[87],"use":[88],"this":[89],"insight":[90],"order":[92],"construct":[94],"difference-in-difference":[96],"estimator":[97],"effects.":[101],"addition,":[103,161],"standard":[105],"model":[106],"with":[109],"capital":[110],"adjustment":[111],"costs":[112],"predicts":[113],"run":[115],"up":[116],"spending":[119],"prior":[120],"expiration":[122],"pothole":[125],"just":[126],"after.":[127],"examination":[129],"details":[132],"expenditure":[134],"patterns":[135],"before,":[136],"during,":[137],"after":[139],"using":[142],"both":[143],"monthly":[144],"quarterly":[146],"data":[147],"suggests":[148],"considerable":[149],"ambiguity":[150],"as":[151],"whether":[153],"model's":[155],"predictions":[156],"were":[157],"borne":[158],"out.":[159],"anecdotal":[162],"evidence":[163],"provides":[164],"only":[165],"limited":[166],"support":[167],"effectiveness":[170],"expensing.":[174]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":4},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":1},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":5},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":6},{"year":2013,"cited_by_count":4},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}
