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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Bibliographic Details
Main Author: Devereux, M
Format: Working paper
Language:English
Published: CEPR 2003