Bericht

Corporate taxation, leverage, and macroeconomic stability

A key challenge for economic policy today is to make the financial system more resilient. The literature finds that high indebtedness (or: leverage), both in the financial and in the real sectors, is a danger to macroeconomic stability and growth. Moreover, the design of the corporate tax system is an important determinant of leverage: in many countries interest paid on debt is tax-deductible while the return on equity is not, such that tax systems incentivize debt-type financing and, hence, leveraging. This article summarizes the debate about the implications of corporate taxation for leverage and economic stability. Proposals for addressing the debt bias of taxation are also presented.

Language: Englisch

Bibliographic citation: Series: DIW Roundup: Politik im Fokus ; No. 93

Classification: Wirtschaft

Event: Geistige Schöpfung

(who): Bremus, Franziska
Huber, Jeremias

Event: Veröffentlichung

(who): Deutsches Institut für Wirtschaftsforschung (DIW)

(where): Berlin

(when): 2016

Handle: http://hdl.handle.net/10419/130604

Last update: 10.03.2025, 11:44 AM CET

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Bericht

Associated

Bremus, Franziska
Huber, Jeremias
Deutsches Institut für Wirtschaftsforschung (DIW)

Time of origin

2016

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Corporate taxation, leverage, and macroeconomic stability

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Other Objects (12)

Corporate taxation, leverage, and macroeconomic stability

Financial leverage and corporate taxation - evidence from German corporate tax return data

Financial leverage and corporate taxation: evidence from German corporate tax return data

Financial leverage and corporate taxation: Evidence from German corporate tax return data

Financial leverage and corporate taxation : evidence from German corporate tax return data

Macroeconomic Uncertainty and Firm Leverage

Macroeconomic Uncertainty and Firm Leverage

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Fiscal targeting rules and macroeconomic stability under distortionary taxation

Fiscal targeting rules and macroeconomic stability under distortionary taxation

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Corporate credit and leverage in the EU: Recent evolution, main drivers and financial stability implications

Corporate taxation, leverage, and macroeconomic stability

Financial leverage and corporate taxation - evidence from German corporate tax return data

Financial leverage and corporate taxation: evidence from German corporate tax return data

Financial leverage and corporate taxation: Evidence from German corporate tax return data

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Macroeconomic Uncertainty and Firm Leverage

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Corporate credit and leverage in the EU: Recent evolution, main drivers and financial stability implications

Corporate taxation, leverage, and macroeconomic stability

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Corporate credit and leverage in the EU: Recent evolution, main drivers and financial stability implications

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