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Taxation and Risk Taking: A General Equilibrium Perspective

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  • Kaplow, Louis

Abstract

Analysis of the interaction between a range of proportional taxes and risk taking finds a wage tax to have the same behavioral effect as a consumption tax, and that a proportional income tax absorbs no investment risk and yields certain revenue.

Suggested Citation

  • Kaplow, Louis, 1994. "Taxation and Risk Taking: A General Equilibrium Perspective," National Tax Journal, National Tax Association;National Tax Journal, vol. 47(4), pages 789-798, December.
  • Handle: RePEc:ntj:journl:v:47:y:1994:i:4:p:789-98
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    References listed on IDEAS

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    1. J. Tobin, 1958. "Liquidity Preference as Behavior Towards Risk," Review of Economic Studies, Oxford University Press, vol. 25(2), pages 65-86.
    2. Bohn, Henning, 1990. "Tax Smoothing with Financial Instruments," American Economic Review, American Economic Association, vol. 80(5), pages 1217-1230, December.
    3. Grinols, Earl L., 1985. "Public investment and social risk-sharing," European Economic Review, Elsevier, vol. 29(3), pages 303-321.
    4. Kaplow, Louis, 1991. "Incentives and Government Relief for Risk," Journal of Risk and Uncertainty, Springer, vol. 4(2), pages 167-175, April.
    5. Ahsan, Syed M., 1976. "Taxation in a two-period temporal model of consumption and portfolio allocation," Journal of Public Economics, Elsevier, vol. 5(3-4), pages 337-352.
    6. Jack M. Mintz, 1981. "Some Additional Results on Investment, Risk Taking, and Full Loss Offset Corporate Taxation with Interest Deductibility," The Quarterly Journal of Economics, Oxford University Press, vol. 96(4), pages 631-642.
    7. Innes, Robert, 1991. "Investment and government intervention in credit markets when there is asymmetric information," Journal of Public Economics, Elsevier, vol. 46(3), pages 347-381, December.
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