The Johansson-Samuelson Theorem in General Equilibrium: A Rebuttal

Francesco Menoncin (menoncin@eco.unibs.it) and Paolo Panteghini

Working Papers from University of Brescia, Department of Economics

Abstract: The well-know Johansson-Samuelson Theorem proves that, in partial equilibrium, comprehensive income taxation with a uniform tax rate is neutral in terms of investment decisions, if fiscal depreciation allowances coincide with economic depreciation. In this article we show that this result does not hold in general equilibrium, unless fairly restrictive conditions are met.

Date: 2008
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Related works:
Journal Article: The Johansson-Samuelson Theorem in General Equilibrium: A Rebuttal (2013)
Working Paper: The Johansson-Samuelson Theorem in General Equilibrium: A Rebuttal (2008)
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