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A Problem of Financial Market Equilibrium When the Timing of Tax Payments is Indeterminate / David F. Bradford.
- Format:
- Book
- Author/Creator:
- Bradford, David F.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w1713.
- NBER working paper series no. w1713
- Language:
- English
- Subjects (All):
- Taxation--Mathematical models.
- Taxation.
- Deficit financing.
- Money market.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1985.
- Cambridge, Massachusetts : National Bureau of Economic Research, 1985.
- Summary:
- If firms are indifferent about the timing of dividends, the government's cash flow from taxes on dividends is indeterminate. In an earlier paper, I showed in the context of a world without uncertainty that variations in tax receipts from this source would have no real effects. The extension of the analysis to a world of risk turns out to involve new elements that may be of some general interest. In particular, the conditions for neutrality seem less likely to be fulfilled in a practical context.
- Notes:
- Print version record
- October 1985.
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