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Tax neutrality and the social discount rate : A suggested framework

  • Auerbach, Alan J.

There is probably no specific problem in tax analysis which has generated as much study and discussion among economists as the question of how to formulate "neutral" tax incentives for investment. Yet no consensus has been reached concerning the proper approach to take when adjusting taxes. Comparing the two fundamental notions of neutrality found in the literature, referred to here as "present value" rules and "internal rate of return" rules, we argue that there is both a single appropriate neutrality criterion (the latter) and a framework which can be used to evaluate the performance of a tax system with respect to this criterion.

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Article provided by Elsevier in its journal Journal of Public Economics.

Volume (Year): 17 (1982)
Issue (Month): 3 (April)
Pages: 355-372

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Handle: RePEc:eee:pubeco:v:17:y:1982:i:3:p:355-372
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505578

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  1. Peter A. Diamond & J. A. Mirrlees, 1968. "Optimal Taxation and Public Production," Working papers 22, Massachusetts Institute of Technology (MIT), Department of Economics.
  2. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
  3. Boadway, Robin W, 1978. "Investment Incentives, Corporate Taxation, and Efficiency in the Allocation of Capital," Economic Journal, Royal Economic Society, vol. 88(351), pages 470-81, September.
  4. Robin Boadway & Richard Harris, 1975. "A Characterization of Piecemeal Second Best Policy," Working Papers 195, Queen's University, Department of Economics.
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