Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75834
Authors: 
Panteghini, Paolo
Year of Publication: 
2001
Series/Report no.: 
CESifo Working Paper 548
Abstract: 
This article studies the effects of corporate tax asymmetries on irreversible investment. We discuss an asymmetric tax scheme where the tax base is given by the firm's return, net of an imputation rate. When the firm's return is less than this rate, however, no tax refunds are allowed. Contrary to common winsdom, this asymmetric scheme may be neutral even when assuming a long-lasting income uncertainty. Neutrality holds even if we add both capital and political uncertainty.
Document Type: 
Working Paper

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