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dc.contributor.authorAuerbach, Alan
dc.contributor.authorSheshinski, Eytan
dc.contributor.authorFeldstein, Martin
dc.contributor.authorGreen, Jerry
dc.date.accessioned2009-08-04T20:05:20Z
dc.date.issued1978
dc.identifier.citationFeldstein, Martin, Jerry Green, and Eytan Sheshinski. 1978. Inflation and taxes in a growing economy with debt and equity finance. Journal of Political Economy 86, no. S2: S53-S70.en
dc.identifier.issn0022-3808en
dc.identifier.urihttp://nrs.harvard.edu/urn-3:HUL.InstRepos:3203645
dc.description.abstractOur tax system was designed for an economy with little or no inflation. The current paper shows that inflation causes capricious changes in the effective rate of tax on capital income and therefore in the real net rate of return that savers receive. This is not only a temporary disequilibrium effect but one which persists in steady-state equilibrium. Unlike earlier papers by Feldstein and by Green and Sheshinski, the current study recognizes that firms finance investment by both debt and equity in a ratio that depends on the tax rates and on the rate of inflation.en
dc.description.sponsorshipEconomicsen
dc.language.isoen_USen
dc.publisherUniversity of Chicago Pressen
dc.relation.isversionofhttp://dx.doi.org/10.1086/260694en
dash.licenseLAA
dc.titleInflation and Taxes in a Growing Economy with Debt and Equity Financeen
dc.relation.journalJournal of Political Economyen
dash.depositing.authorGreen, Jerry
dc.identifier.doi10.1086/260694*
dash.authorsorderedfalse
dash.contributor.affiliatedGreen, Jerry
dash.contributor.affiliatedFeldstein, Martin


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