Taxation, bank leverage, and financial crises:
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.]
International Monetary Fund
© 2013
|
| Series: | IMF working paper
WP/13/48 |
| Subjects: | |
| Online Access: | Volltext |
| Item Description: | Title from PDF title page (IMF Web site, viewed Feb. 25, 2013). - "Fiscal Affairs Department"--Page 2 of pdf. - "February 2013"--Page 2 of pdf "That most corporate tax systems favor debt over equity finance is now widely recognized as, potentially, amplifying risks to financial stability. This paper makes a first attempt to explore, empirically, the link between this tax bias and the probability of financial crisis. It finds that greater tax bias is associated with significantly higher aggregate bank leverage, and that this in turn is associated with a significantly greater chance of crisis. The implication is that tax bias makes crises much more likely, and, conversely, that the welfare gains from policies to alleviate it can be substantial - far greater than previous studies, which have ignored financial stability considerations, suggest"--Abstract Includes bibliographical references (pages 23-25) |
| Physical Description: | 1 Online-Ressource (26 pages) |
| ISBN: | 9781475521849 1475521847 |
Staff View
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| 500 | |a Title from PDF title page (IMF Web site, viewed Feb. 25, 2013). - "Fiscal Affairs Department"--Page 2 of pdf. - "February 2013"--Page 2 of pdf | ||
| 500 | |a "That most corporate tax systems favor debt over equity finance is now widely recognized as, potentially, amplifying risks to financial stability. This paper makes a first attempt to explore, empirically, the link between this tax bias and the probability of financial crisis. It finds that greater tax bias is associated with significantly higher aggregate bank leverage, and that this in turn is associated with a significantly greater chance of crisis. The implication is that tax bias makes crises much more likely, and, conversely, that the welfare gains from policies to alleviate it can be substantial - far greater than previous studies, which have ignored financial stability considerations, suggest"--Abstract | ||
| 500 | |a Includes bibliographical references (pages 23-25) | ||
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| illustrated | Not Illustrated |
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| language | English |
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| spelling | Mooij, Ruud A. de 1968- Verfasser (DE-588)115083537 aut Taxation, bank leverage, and financial crises Ruud de Mooij, Michael Keen, and Masanori Orihara [Washington, D.C.] International Monetary Fund © 2013 1 Online-Ressource (26 pages) txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/13/48 Title from PDF title page (IMF Web site, viewed Feb. 25, 2013). - "Fiscal Affairs Department"--Page 2 of pdf. - "February 2013"--Page 2 of pdf "That most corporate tax systems favor debt over equity finance is now widely recognized as, potentially, amplifying risks to financial stability. This paper makes a first attempt to explore, empirically, the link between this tax bias and the probability of financial crisis. It finds that greater tax bias is associated with significantly higher aggregate bank leverage, and that this in turn is associated with a significantly greater chance of crisis. The implication is that tax bias makes crises much more likely, and, conversely, that the welfare gains from policies to alleviate it can be substantial - far greater than previous studies, which have ignored financial stability considerations, suggest"--Abstract Includes bibliographical references (pages 23-25) BUSINESS & ECONOMICS / International / Taxation bisacsh Financial crises fast Financial leverage fast Taxation fast Steuer Wirtschaft Taxation Financial leverage Financial crises Keen, Michael 1956- Sonstige (DE-588)114051224 oth Orihara, Masanori Sonstige oth International Monetary Fund Sonstige oth http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=561236 Aggregator Volltext |
| spellingShingle | Mooij, Ruud A. de 1968- Taxation, bank leverage, and financial crises BUSINESS & ECONOMICS / International / Taxation bisacsh Financial crises fast Financial leverage fast Taxation fast Steuer Wirtschaft Taxation Financial leverage Financial crises |
| title | Taxation, bank leverage, and financial crises |
| title_auth | Taxation, bank leverage, and financial crises |
| title_exact_search | Taxation, bank leverage, and financial crises |
| title_full | Taxation, bank leverage, and financial crises Ruud de Mooij, Michael Keen, and Masanori Orihara |
| title_fullStr | Taxation, bank leverage, and financial crises Ruud de Mooij, Michael Keen, and Masanori Orihara |
| title_full_unstemmed | Taxation, bank leverage, and financial crises Ruud de Mooij, Michael Keen, and Masanori Orihara |
| title_short | Taxation, bank leverage, and financial crises |
| title_sort | taxation bank leverage and financial crises |
| topic | BUSINESS & ECONOMICS / International / Taxation bisacsh Financial crises fast Financial leverage fast Taxation fast Steuer Wirtschaft Taxation Financial leverage Financial crises |
| topic_facet | BUSINESS & ECONOMICS / International / Taxation Financial crises Financial leverage Taxation Steuer Wirtschaft |
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