Economic Analysis of Business Taxation
Organized by Juan Carlos Suárez Serrato and Eric Zwick
Supported by the Smith Richardson Foundation
October 24, 2025
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA 02142
Thursday, October 23
6:00pm
Dinner, Longfellow C Room
Friday, October 24
8:20AM
Breakfast, Parkview Room
8:50AM

The Neoclassical Theory of Firm Investment and Taxes: A Reassessment

Gabriel Chodorow-Reich, Harvard University and NBER
9:35AM

Optimal Dual-Regime Business Tax Systems

Rishi Sharma, Colgate University
Joel Slemrod, University of Michigan and NBER
Michael Stimmelmayr, University of Bath
John D. Wilson, Michigan State University
Peter Choi, University of Michigan
10:20AM
Break
10:35AM

Taxes, Incentives and Entrepreneurship: Evidence from the Universe of U.S. Startups

Robert W. Fairlie, University of California, Los Angeles and NBER
Frank M. Fossen, University of Nevada - Reno
Andrew C. Johnston, University of Texas at Austin and NBER
Ke Lyu, University of Nevada - Reno
10:55AM

How Does Capital Investment Affect Workers?

Kevin A. Roberts, Stanford Graduate School of Business
11:15AM
Break
The next two paper presentations will be joint with the Public Economics Program Meeting
11:30am

How Much Tax Do US Billionaires Pay? Evidence from Administrative Data

Akcan S. Balkir, University of California, Berkeley
Emmanuel Saez, University of California, Berkeley and NBER
Danny Yagan, University of California, Berkeley and NBER
Gabriel Zucman, University of California, Berkeley and NBER
11:50AM

Do Billionaires Pay Taxes?

Laurent Bach, ESSEC Business School
Antoine Bozio, Paris School of Economics
Arthur Guillouzouic, Aix-Marseille School of Economics
Clement Malgouyres, CREST-IPP
12:15PM
Lunch, Parkview Room
1:00PM

A Sufficient Statistics Approach to Optimal Corporate Taxes

Dustin Swonder, University of California, Berkeley
Damián Vergara, University of Michigan and NBER
1:45PM

Dilution vs. Risk-Sharing: Startups and the Timing of Capital Gains Taxes (slides)

Eduardo M. Azevedo, University of Pennsylvania
Florian Scheuer, University of Zurich
Kent Smetters, University of Pennsylvania and NBER
Min Yang
2:30PM
Break
2:45PM

Do Taxes Affect Pre-Tax Income Inequality? Evidence from 100 Years of U.S. State Policies

Sarah Robinson, Claremont McKenna College
Matías Strehl Pessina, University of California, Santa Barbara
Alisa Tazhitdinova, University of California, Santa Barbara and NBER
3:30PM

Corporate Taxation, Prices, and Inequality

Manon Francois, Stanford University
Sébastien Laffitte, CYU - Cergy Paris University
Clement Malgouyres, CREST-IPP
Mathieu Parenti, Paris School of Economics
4:15PM
Break
4:30PM

What Do Technology Grants Do? (slides)

Joonas Tuhkuri, Stockholm University
Aapo Stenhammar, University of Bonn
Johannes Hirvonen, Northwestern University
4:50PM

The Consequences of Limiting the Tax Deductibility of R&D

Mary Cowx, Arizona State University
Rebecca Lester, Stanford University
Michelle Nessa, Michigan State
5:10PM
Adjourn