In this article we use a stochastic model with one representative firm to study business tax policy under default risk. We will show that, for a given tax rate, the government has an incentive to reduce (increase) financial instability and default costs if its objective function is welfare (tax revenue).

Business Tax Policy under Default Risk

Nicola Comincioli;Paolo Panteghini;Sergio Vergalli
2019-01-01

Abstract

In this article we use a stochastic model with one representative firm to study business tax policy under default risk. We will show that, for a given tax rate, the government has an incentive to reduce (increase) financial instability and default costs if its objective function is welfare (tax revenue).
2019
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11379/527030
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