Taxing risky investment.
This Paper re-examines the impact of capital income taxes on the incentive to invest in the presence of risk. Specifically, it challenges a well-known claim in the literature that such a tax can leave incentives ‘basically unaffected’ because the tax liability is offset by a reduction in the post-ta...
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Format: | Working paper |
Language: | English |
Published: |
CEPR
2003
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