Risk Taking And Taxation In Complete Capital Markets
AbstractIn general equilibrium, with complete conventional securities markets and endogenous asset supply, taxes on risk remuneration are ineffective but harmless. They do not alter the real allocation of goods or the distribution of wealth, they impose no excess burden, and, in particular, have no impact on risk taking. The Geneva Papers on Risk and Insurance Theory (1991) 16, 167â177. doi:10.1007/BF02386305
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Bibliographic InfoPaper provided by California Irvine - School of Social Sciences in its series Papers with number 90-91-20.
Length: 15 pages
Date of creation: 1991
Date of revision:
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Postal: UNIVERSITY OF CALIFORNIA IRVINE, SCHOOL OF SOCIAL SCIENCES, IRVINECALIFORNIA 91717 U.S.A.
economic equilibrium ; securities ; risk;
Other versions of this item:
- Kai A. Konrad, 1991. "Risk Taking and Taxation in Complete Capital Markets," The Geneva Risk and Insurance Review, Palgrave Macmillan, vol. 16(2), pages 167-177, December.
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- Alan J. Auerbach & David F. Bradford, 2001.
"Generalized Cash Flow Taxation,"
131, Princeton University, Department of Economics, Center for Economic Policy Studies..
- Hans-Werner Sinn, 1996.
"Social insurance, incentives and risk taking,"
International Tax and Public Finance,
Springer, vol. 3(3), pages 259-280, July.
- Dirk Schindler & Bodo Hilgers, 2002. "Shall We Tax the Risk Premium?," CoFE Discussion Paper 02-17, Center of Finance and Econometrics, University of Konstanz.
- Feduzi, Alberto & Runde, Jochen, 2011. "The uncertain foundations of the welfare state," Journal of Economic Behavior & Organization, Elsevier, vol. 80(3), pages 613-627.
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