Uninsurable investment risks and capital income taxation
نویسندگان
چکیده
منابع مشابه
Uninsurable Investment Risks
This paper studies a general equilibrium economy in which agents have the ability to invest in a risky technology. The investment risk cannot be fully insured with optimal contracts because shocks are private information. The consideration of these risks changes two of the main conclusions reached in previous studies. First, a positive tax on capital may not be optimal in the long run. Second, ...
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ژورنال
عنوان ژورنال: Annals of Finance
سال: 2008
ISSN: 1614-2446,1614-2454
DOI: 10.1007/s10436-008-0112-8