The Effects of Taxation on Capital Accumulation
In: The Economic Journal, Band 99, Heft 394, S. 221
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In: The Economic Journal, Band 99, Heft 394, S. 221
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In: Journal of Public Economics, Band 75, Heft 3
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In: IMF Working Papers
Understanding the impact of the asymmetric tax treatment of debt and equity on the capital structures of financial institutions is critical to shaping and assessing responses to the problem of excessive leverage that underlay the 2009 financial crisis - but there is no empirical evidence to draw on. Guided by a simple model of banks? financing decisions in the presence of both regulatory constraints and tax asymmetries, this paper explores the impact of corporate tax bias on bank leverage, the use of hybrid instruments and regulatory capital ratios for a panel of over 14,000 commercial banks i
In: IMF Working Papers
This paper focuses on two core tax design issues that arise in addressing current fiscal challenges. It first explores the idea, prominent in troubled Eurozone countries, of a ""fiscal devaluation"": shifting from social contributions to the VAT as a way to mimic a nominal devaluation. Empirical evidence is presented which suggests that in Eurozone countries this may indeed improve the trade balance in the short-run, though, as theory predicts, the effects eventually disappear. The paper then assesses the wider scope for VAT reform in meeting fiscal consolidation needs, developing and beginnin
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In: NBER Working Paper No. w17913
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In: IMF Working Paper No. 12/85
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In: Subsidiarity and economic reform in Europe, S. 219-241
In: Subsidiarity and Economic Reform in Europe, S. 219-241
In: Journal of international economics, Band 56, Heft 2, S. 489-507
ISSN: 0022-1996
In: American economic review, Band 92, Heft 1, S. 363-370
ISSN: 1944-7981