The Existence Of Equilibrium In A Financial Market With General Personal And Corporate Tax Structures

Frank Milne and Xing Jin
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Xing Jin: University of Warwick

No 939, Working Paper from Economics Department, Queen's University

Abstract: This article concerns the existence of equilibrium in a two-period model with general personal and corporate tax structures. We show that an equilibrium exists if there is a price system under which no consumer or firm has an arbitrage opportunity. The model can be modified to handle non convex tax structures and capital gains.

Keywords: taxation; general equilibrium; financial markets (search for similar items in EconPapers)
JEL-codes: D5 G1 H2 (search for similar items in EconPapers)
Pages: 24 pages
Date: 1996-11
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:939

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