Universität zu Köln

Bierbrauer, Felix ORCID: 0000-0003-3879-9607 (2014). Tax incidence for fragile financial markets. J. Public Econ., 120. S. 107 - 126. LAUSANNE: ELSEVIER SCIENCE SA. ISSN 0047-2727

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Abstract

Standard tax incidence analysis deals with households and firms that buy and sell consumption goods, as opposed to financial institutions that buy and sell financial products. This paper develops a framework that allows us to study tax incidence on financial markets, and applies it to a financial transactions tax. A main result is that the tax may contribute to financial distress. Moreover, if the government has to bail out the debtors of failed financial institutions, the tax-induced increase in bailout costs may be larger than the increase in tax revenue, so that the government's overall fiscal position becomes worse. (C) 2014 Elsevier B.V. All rights reserved.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Bierbrauer, Felix UNSPECIFIED orcid.org/0000-0003-3879-9607 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-421174
DOI:	10.1016/j.jpubeco.2014.09.002
Journal or Publication Title:	J. Public Econ.
Volume:	120
Page Range:	S. 107 - 126
Date:	2014
Publisher:	ELSEVIER SCIENCE SA
Place of Publication:	LAUSANNE
ISSN:	0047-2727
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Center of Excellence C-SEB Faculty of Management, Economics and Social Sciences > Economics > Macroeconomic, Financial and Economic Policy > Professorship for Macroeconomic
Subjects:	Economics
Uncontrolled Keywords:	Keywords Language ASSET PRICES; LIQUIDITY; RISK; SECTOR Multiple languages Economics Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/42117