The Johansson-Samuelson Theorem in General Equilibrium: A Rebuttal

Francesco Menoncin () and Paolo Panteghini

FinanzArchiv: Public Finance Analysis, 2013, vol. 69, issue 1, 57-71

Abstract: The well-known Johansson-Samuelson theorem proves that, in partial equilibrium, comprehensive income taxation with a uniform tax rate does not affect asset values if tax depreciation allowances coincide with economic depreciation. In this article, we show that this result fails to hold in general equilibrium, unless fairly restrictive conditions are met.

Keywords: investment neutrality; uniform taxation (search for similar items in EconPapers)
JEL-codes: H25 H32 (search for similar items in EconPapers)
Date: 2013
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Working Paper: The Johansson-Samuelson Theorem in General Equilibrium: A Rebuttal (2008)
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DOI: 10.1628/001522108X663479

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