search query: @author Karayalcin, C. / total: 2
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| Author: | Karayalcin, C. |
| Title: | Capital income taxation and welfare in a small open economy |
| Journal: | Journal of International Money and Finance
1995 : DEC, VOL. 14:6, p. 785-800 |
| Index terms: | CAPITAL INCOME TAX WELFARE OPEN ECONOMY |
| Language: | eng |
| Abstract: | The continuing process of global economic integration, as exemplified by the unification of the European market as well as by the recent liberalization of capital markets in several developing countries, has given rise, inter alia, to a growing literature focusing on the international effects of taxation. This paper studies the effects of various capital income policies in a small open economy. Households are infinitely-lived and possess endogenous time preferences. Investment by firms is subject to adjustment costs. It is shown that welfare paradoxes may exist, in that increases in tax instruments may improve welfare. |
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