Post by congregatio on Aug 20, 2014 5:51:45 GMT 4
Taxes on Risky Returns — An Update
Wolfgang Buchholz
Universitaet Regensburg; CESifo (Center for Economic Studies and Ifo Institute)
Kai A. Konrad
Max Planck Institute for Tax Law and Public Finance; Social Science Research Center Berlin (WZB); Centre for Economic Policy Research (CEPR); CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Institute for the Study of Labor (IZA)
July 21, 2014
Working Paper of the Max Planck Institute for Tax Law and Public Finance No. 2014-10
Abstract:
This paper surveys the theory on taxes on risky returns that originated from Domar and Musgrave (1944). Emphasis is given to the role of complete capital markets and on capital market imperfections arising from limited liability, moral hazard and adverse selection.
Number of Pages in PDF File: 36 see: papers.ssrn.com/sol3/papers.cfm?abstract_id=2469268