@article{Uninsurable:1509,
      recid = {1509},
      author = {Meh, Césaire and Terajima, Yaz},
      title = {Uninsurable Investment Risks and Capital Income Taxation},
      address = {2009},
      pages = {1 online resource (ii, 33 pages)},
      abstract = {This paper studies the capital accumulation and welfare  implications of reducing capital income taxation in a  general equilibrium economy with uninsurable investment  risks. It has been shown that, with uninsurable investment  risks, under-accumulation of capital may result compared to  the complete markets economy. We show that reducing  somewhat the capital income tax rate increases the capital  stock and leads to a welfare gain. The complete elimination  of the capital income tax, however, is not necessarily  welfare improving.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/1509},
      doi = {https://doi.org/10.34989/swp-2009-3},
}