The tax shield increases the interest rate

Fischer, Marcel; Jensen, Bjarne Astrup

The tax shield increases the interest rate

Dateien

Fischer_2-3unfl306x20w2.pdfGröße: 717.68 KBDownloads: 8

Datum

2024

Autor:innen

Fischer, Marcel

Jensen, Bjarne Astrup

Open Access-Veröffentlichung

Open Access Hybrid

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Zeitschriftenartikel

Publikationsstatus

Published

Erschienen in

Journal of Banking & Finance. Elsevier. 2024, 161, 107096. ISSN 0378-4266. eISSN 1872-6372. Verfügbar unter: doi: 10.1016/j.jbankfin.2024.107096

Zusammenfassung

We study the general equilibrium implications of the corporate tax shield in a growth economy that taxes household income and firm profits and redistributes tax revenues. Our stylized model predicts that in general equilibrium the tax shield's reduction of the corporate after-tax borrowing rate is counteracted (but not fully eliminated) by an increase in the pre-tax rate.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

Tax shield, Interest rate, General equilibrium

Zitieren

ISO 690

FISCHER, Marcel, Bjarne Astrup JENSEN, 2024. The tax shield increases the interest rate. In: Journal of Banking & Finance. Elsevier. 2024, 161, 107096. ISSN 0378-4266. eISSN 1872-6372. Verfügbar unter: doi: 10.1016/j.jbankfin.2024.107096

BibTex

@article{Fischer2024-04shiel-69395,
  year={2024},
  doi={10.1016/j.jbankfin.2024.107096},
  title={The tax shield increases the interest rate},
  volume={161},
  issn={0378-4266},
  journal={Journal of Banking & Finance},
  author={Fischer, Marcel and Jensen, Bjarne Astrup},
  note={Article Number: 107096}
}

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