Can tax policy co-cause the crisis?

Irena Szarowska

MPRA Paper from University Library of Munich, Germany

Abstract: Although taxes have not generated the crisis, some aspects of tax policy may have led to increased risk-taking and indebtedness of banks, households and companies. Tax incentives may indeed the behavior of economic agents, leading them to wrong economic decisions. The aim of the paper is to review main channels through which the tax policy can affect financial markets and financial stability. Attention is focused on last and current development of tax reliefs for housing and capital gains, tax benefits for corporate debt financing and taxation of financial institutions Conventional scientific methods such as analysis, induction, comparison and synthesis are used in the paper.

Keywords: crisis; corporate debt financing; housing; taxation of financial institutions (search for similar items in EconPapers)
JEL-codes: G1 G10 G20 G3 H2 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-acc, nep-cfn and nep-pub
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Published in DEEV, O; KAJUROVA, V; KRAJICEK, J. (eds.) 10th International Scientific Conference on European Financial Systems 2013. WOS:000324654400048 (2013): pp. 323-330

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