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The 2008 Financial Crisis and Taxation Policy

Thomas Hemmelgarn () and Gaëtan Nicodème

No 10-006.RS, Working Papers CEB from ULB -- Universite Libre de Bruxelles

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, leading to 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: financial crisis; tax policy; taxation; fiscal stimulus; financial transaction tax; property tax. (search for similar items in EconPapers)
JEL-codes: E62 F21 F30 G10 H20 H30 H50 H60 (search for similar items in EconPapers)
Pages: 42 p.
Date: 2010
New Economics Papers: this item is included in nep-acc, nep-fdg, nep-mac, nep-pbe, nep-pub and nep-ure
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Citations: View citations in EconPapers (21)

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