The Existence of Equilibrium in a Financial Market with General Personal and Corporate Tax Structures
AbstractThis article concerns the existence of equilibrium in a two-period model with general personal and corporate tax structures. We show that an equilibrium exists if there is a price system under which no consumer or firm has an arbitrage opportunity. The model can be modified to handle non convex tax structures and capital gains.
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Bibliographic InfoPaper provided by Queen's University, Department of Economics in its series Working Papers with number 939.
Length: 24 pages
Date of creation: Nov 1996
Date of revision:
general equilibrium; financial markets; taxation; general equilibrium; financial markets; taxation;
Find related papers by JEL classification:
- G1 - Financial Economics - - General Financial Markets
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
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