The Johansson-Samuelson Theorem in General Equilibrium: A Rebuttal

The well-known Johansson-Samuelson theorem proves that, in partial equilibrium, comprehensive income taxation with a uniform tax rate does not affect asset values if tax depreciation allowances coincide with economic depreciation. In this article, we show that this result fails to hold in general equilibrium, unless fairly restrictive conditions are met.

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Year of publication:	2013
Authors:	Menoncin, Francesco ; Panteghini, Paolo M.
Published in:	FinanzArchiv: Public Finance Analysis. - ISSN 0015-2218. - Vol. 69.2013, 1, p. 57-71
Subject:	investment neutrality \| uniform taxation

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Extent:	text/html
Type of publication:	Article
Classification:	H32 - Firm ; H25 - Business Taxes and Subsidies
Source:	RePEc - Research Papers in Economics

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