The 2008 Financial Crisis and Taxation Policy

Thomas Hemmelgarn () and Gaëtan Nicodème

No 20, Taxation Papers from Directorate General Taxation and Customs Union, European Commission

Abstract: The 2008 financial crisis is the worst economic crisis since the Great Depression of 1929. It has been characterised by a housing bubble in a context of rapid credit expansion, high risk-taking and exacerbated financial leverage, ending into deleveraging and credit crunch when the bubble burst. This paper discusses the interactions between tax policy and the financial crisis. In particular, it reviews the existing evidence on the links between taxes and many characteristics of the crisis. Finally, it examines some possible future tax options to prevent such crises.

Keywords: Taxation; financial crisis; banking crisis; fiscal incentives (search for similar items in EconPapers)
JEL-codes: E62 F21 F30 G10 H20 H30 H50 H60 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2010-01
New Economics Papers: this item is included in nep-acc, nep-fdg, nep-mac, nep-pbe, nep-pub and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

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Related works:
Working Paper: The 2008 Financial Crisis and Taxation Policy (2010)
Working Paper: The 2008 Financial Crisis and Taxation Policy (2010)
Working Paper: The 2008 Financial Crisis and Taxation Policy (2010)
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