Arbeitspapier
Uninsurable investment risks and capital income taxation
This paper studies the capital accumulation and welfare implications of reducing capital income taxation in a general equilibrium economy with uninsurable investment risks. It has been shown that, with uninsurable investment risks, under-accumulation of capital may result compared to the complete markets economy. We show that reducing somewhat the capital income tax rate increases the capital stock and leads to a welfare gain. The complete elimination of the capital income tax, however, is not necessarily welfare improving.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Canada Working Paper ; No. 2009-3
- Klassifikation
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Investment; Capital; Intangible Capital; Capacity
Fiscal Policy
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
Business Taxes and Subsidies including sales and value-added (VAT)
- Thema
-
Economic models
Investitionsrisiko
Kapitalertragsteuer
Steuerbegünstigung
Wohlfahrtseffekt
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Meh, Césaire A.
Terajima, Yaz
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Canada
- (wo)
-
Ottawa
- (wann)
-
2009
- DOI
-
doi:10.34989/swp-2009-3
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Meh, Césaire A.
- Terajima, Yaz
- Bank of Canada
Entstanden
- 2009
Ähnliche Objekte (12)
Sterilized intervention in emerging-market economies: Trends, costs, and risks
Jump-diffusion long-run risks models, variance risk premium and volatility dynamics
Windfall income shocks with finite planning horizons
The Endogenous Relative Price of Investment
Optimal taxation in asset markets with adverse selection
Firm-level investment under imperfect capital markets in Ukraine
Toward a HANK model for Canada: Estimating a Canadian income process
Identifying aggregate shocks with micro-level heterogeneity: Financial shocks and investment fluctuation
Home equity extraction and the boom-bust cycle in consumption and residential investment
Real and nominal frictions within the firm: How lumpy investment matters for price adjustment
Global macro risks in currency excess returns
Monetary policy, private debt and financial stability risks
Sterilized intervention in emerging-market economies: Trends, costs, and risks
Jump-diffusion long-run risks models, variance risk premium and volatility dynamics
Windfall income shocks with finite planning horizons
The Endogenous Relative Price of Investment
Optimal taxation in asset markets with adverse selection
Firm-level investment under imperfect capital markets in Ukraine
Toward a HANK model for Canada: Estimating a Canadian income process
Identifying aggregate shocks with micro-level heterogeneity: Financial shocks and investment fluctuation
Home equity extraction and the boom-bust cycle in consumption and residential investment
Real and nominal frictions within the firm: How lumpy investment matters for price adjustment
Global macro risks in currency excess returns
Monetary policy, private debt and financial stability risks
Sterilized intervention in emerging-market economies: Trends, costs, and risks
Jump-diffusion long-run risks models, variance risk premium and volatility dynamics
Windfall income shocks with finite planning horizons
The Endogenous Relative Price of Investment
Optimal taxation in asset markets with adverse selection
Firm-level investment under imperfect capital markets in Ukraine
Toward a HANK model for Canada: Estimating a Canadian income process
Identifying aggregate shocks with micro-level heterogeneity: Financial shocks and investment fluctuation
Home equity extraction and the boom-bust cycle in consumption and residential investment
Real and nominal frictions within the firm: How lumpy investment matters for price adjustment
Global macro risks in currency excess returns