Series: Policy Papers
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 06 December 2009
Keywords: Corporate sector, Credit risk, Debt, Debt conversion, Financial risk, Financial sector, Fiscal policy, Fiscal reforms, Housing, Stock markets
Tax distortions are likely to have encouraged excessive leveraging and other financial market problems evident in the crisis. These effects have been little explored, but are potentially macro-relevant. Taxation ca...