000001509 001__ 1509
000001509 005__ 20250211155829.0
000001509 0247_ $$a10.34989/swp-2009-3$$2DOI
000001509 035__ $$a10.34989/swp-2009-3
000001509 041__ $$aeng
000001509 084__ $$aE Macroeconomics and Monetary Economics$$03005
000001509 084__ $$aE2 Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy$$03019
000001509 084__ $$aE21 Consumption; Saving; Wealth$$03021
000001509 084__ $$aE22 Investment; Capital; Intangible Capital; Capacity$$03022
000001509 084__ $$aE6 Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook$$03049
000001509 084__ $$aE62 Fiscal Policy$$03052
000001509 084__ $$aG Financial Economics$$03122
000001509 084__ $$aG3 Corporate Finance and Governance$$03144
000001509 084__ $$aG32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill$$03147
000001509 084__ $$aH Public Economics$$03162
000001509 084__ $$aH2 Taxation, Subsidies, and Revenue$$03171
000001509 084__ $$aH24 Personal Income and Other Nonbusiness Taxes and Subsidies$$03176
000001509 084__ $$aH25 Business Taxes and Subsidies$$03177
000001509 245__ $$aUninsurable Investment Risks and Capital Income Taxation
000001509 269__ $$a2009
000001509 300__ $$a1 online resource (ii, 33 pages)
000001509 336__ $$aText
000001509 347__ $$bPDF
000001509 520__ $$aThis 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.$$7Abstract
000001509 520__ $$aL’étude examine les conséquences, du point de vue du bien-être et de l’accumulation du capital, d’une réduction de l’impôt sur le revenu du capital dans le cadre d’un modèle d’équilibre général où les risques d’investissement ne sont pas assurables. Il a été démontré que la présence de tels risques peut provoquer une sous-accumulation du capital par rapport à ce que l’on observe dans une économie dotée de marchés complets. Les auteurs montrent qu’une réduction modérée du taux d’imposition du revenu du capital a pour effet d’accroître le stock de capital et entraîne une amélioration du bien-être. Cependant, l’élimination totale de l’impôt sur le revenu du capital ne s’accompagne pas nécessairement d’un gain de bien-être.$$7Résumé
000001509 540__ $$aCreative Commons Attribution 4.0 International$$uhttps://creativecommons.org/licenses/by/4.0/legalcode$$fCC-BY-4.0
000001509 6531_ $$aEconomic models
000001509 6531_ $$aModèles économiques
000001509 7001_ $$aMeh, Césaire
000001509 7001_ $$aTerajima, Yaz
000001509 789__ $$w1701-9397$$2ISSN$$eIsPartOf
000001509 791__ $$aJournalArticle$$eIsPreviousVersionOf$$iStaff Working Paper is published in peer-reviewed journal$$2DOI$$tUninsurable investment risks and capital income taxation$$w10.1007/s10436-008-0112-8$$c2009$$dAnnals of Finance (Springer)$$j5$$k3-4$$o521$$q541
000001509 8301_ $$aStaff Working Paper
000001509 8301_ $$aDocument de travail du personnel
000001509 8564_ $$uhttps://www.oar-rao.bank-banque-canada.ca/record/1509/files/wp09-3.pdf$$9b2e7feaf-6fcc-4abe-8074-fcfacab82eea$$s263448$$zFile Source: Bank of Canada website, 2024
000001509 909CO $$ooai:www.oar-rao.bank-banque-canada.ca:1509$$pbibliographic
000001509 980__ $$aStaff Research
000001509 980__ $$aRDM
000001509 991__ $$aPublic