Optimal Tax on Capital Inflows Discriminated by Debt-risk Rrofile

Publicado en

  • International Tax and Public Finance

Resumen

  • In this study, the optimal value of a tax on capital inflows is estimated so that private agents internalize the social costs of their borrowing decisions in an economy with financial constraints. A key feature of our model is that we provide a theoretical foundation to tax level differentiation by asset volatility. Using Colombian data for the 1996–2011 period (which includes the crisis of 1998–1999), we find the tax would be around 1.2 %. Copyright Springer Science+Business Media New York 2015

fecha de publicación

  • 2015

Líneas de investigación

  • Capital Flows
  • Externalities
  • Financial Constraint
  • Optimal Tax

Página inicial

  • 102

Última página

  • 119

Volumen

  • 22

Issue

  • 1