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The Implications of Risk and Irreversibility for the Measurement of Marginal Effective Tax Rates of Capital

  • McKenzie, K.J.

The implications of risk and irreversibility for the measurement of marginal effective tax rates on capital are examined. It is shown that, when capital is irreversible, the marginal effective tax rate is an increasing function of systematic and unsystematic capital and income risk. The tax system may, thus, distort investments in risky capital to a much greater extent than is implied by previous research that ignored irreversibilities. Marginal effective tax rate calculations based upon the Canadian corporate tax system are provided.

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Paper provided by Calgary - Department of Economics in its series Papers with number 137.

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Length: 34 pages
Date of creation: 1992
Date of revision:
Handle: RePEc:fth:calgar:137
Contact details of provider: Postal: THE UNIVERSITY OF CALGARY, DEPARTMENT OF ECONOMICS, 2500 UNIVERSITY DRIVE N.W. CALGARY ALBERTA CANADA T2N 1N4.
Phone: (403) 220-5857
Fax: (403) 282-5262
Web page: http://econ.ucalgary.ca/

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