Effects of Varying Tax Receipts when Timing of Tax Payments is Indeterminate: The Case of a Tax on Corporate Distributions

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/2352 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/2352 http://eprints.org/relation/isCoversheetVersionOf https://pure.iiasa.ac.at/id/document/2352 archive 351 disk0/00/00/23/29 2016-01-15 01:53:50 2021-08-27 17:11:32 2016-01-15 01:53:50 monograph show 2 Bradford D.F. Effects of Varying Tax Receipts when Timing of Tax Payments is Indeterminate: The Case of a Tax on Corporate Distributions pub iis_ecn prog_ind This paper concerns an aspect of the question: When do government deficits matter? My original intent was to sketch out as a starting point the extension of previous work (1981) showing how endogenously generated deficits might have no real effect, a result obtained under an assumption of perfect substitutability between government and private debt, to a world of risky debt where the latter assumption would no longer hold. My intuition was that the extension would go through in a straightforward way. As it turns out, the extension is not quite as direct as I had expected, and I think the difference may be of some general interest. In particular, the conditions for neutrality seem less likely to be fulfilled in a practical context. 1983-10 published CP-83-053 CP-83-053 public collaborative_paper IIASA, Laxenburg, Austria 19 FALSE info:eu-repo/semantics/book