Taxation and Risk Taking : a General Equilibrium Perspective

  title={Taxation and Risk Taking : a General Equilibrium Perspective},
  author={Louis and KAPLOW},
  • Louis, KAPLOW
  • Published 1994
Taxation and risk taking are examined in a general equilibrium mode/ that incorporates uncertain government revenue and allows the government to influence risk through portfolio investments as well as through tax r policy. It is demonstra ted that each of a wide range of taxes can be decomposed into some combina tion of a wage tax, an ex ante wealth tax, and a modification of the government’s investment portfolio. For example, with an adjustment in the government’s portfolio, an income tax is… CONTINUE READING
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