Show simple item record Correia, Isabel 2016-09-15T13:02:18Z 2016-09-15T13:02:18Z 2015-10
dc.description.abstract The decline of capital taxation is associated with efficiency gains.We show that, when agents are heterogeneous, equity concerns can change the policy recommendation driven by efficiency. Given the empirical evidence on the roots of heterogeneity inside each country, either in/ndeveloping or developed economies, the elimination of capital taxation would lead always to a decline in inequality and to an increase of welfare of the poorest, in a small open economy acting unilaterally. On the contrary for a closed economy, or for group of open economies following the same policy, the opposite can be the result: with the elimination of capital taxation it can hurts the poorest of each country. Therefore a low degree of capital openness can support a positive tax on capital.
dc.description.sponsorship The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries ADEMU Working Paper Series;19
dc.rights This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.
dc.title Capital taxation and globalization
dc.type info:eu-repo/semantics/workingPaper
dc.subject.keyword Capital taxation
dc.subject.keyword Incidence
dc.subject.keyword Globalization of capital markets
dc.subject.keyword Policy Coordination
dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/649396
dc.rights.accessRights info:eu-repo/semantics/openAccess

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