Asymmetric Taxation and the Theory of the Competitive Firm under Uncertainty

Elie Appelbaum and E. Katz

Canadian Journal of Economics, 1987, vol. 20, issue 2, 357-69

Abstract: This paper examines the implications of the asymmetries in the tax treatment of corporate profits and losses for the theory of the competitive firm under uncertainty. It is shown that the tax asymmetry introduces a curvature into the firm's target function which affects its behavior in the short run. In long-run industry equilibrium, however, most of the effects disappear at the firm level, but still remain at the industry level.

Date: 1987
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