ISBN:
9780444876126
Content:
This chapter discusses the effects of taxation on savings and risk taking. The effects of taxation on the volume and composition of private saving has traditionally been considered one of the central questions in public finance. From a policy point of view one can point to a series of arguments for the importance of the problem. On the normative side perhaps the most important insight derived from recent work is that there are no easy options in tax policy with respect to saving and risk taking. Feasible tax systems all involve distortions of the decisions made by consumers and firms, and one faces the now familiar second-best problem of designing tax systems which are welfare-maximizing subject to the constraints on the choice of tax instruments. Recent work has also emphasized that tax policy towards saving and risk taking cannot be studied in isolation from the effects on other areas of the economy; thus, one is led to a general equilibrium approach to the issues.
In:
Handbook of public economics, Amsterdam [u.a.] : Elsevier, 1985, (1985), Seite 265-311, 9780444876126
In:
044487612X
In:
9780080547220
In:
0080547222
In:
year:1985
In:
pages:265-311
Language:
English
DOI:
10.1016/S1573-4420(85)80008-2
URL:
Volltext
(Deutschlandweit zugänglich)
