Keuschnigg, Christian; Ribi, Evelyn - C.E.P.R. Discussion Papers - 2009
finance constraints due to moral hazard, investment becomes sensitive to cash-flow and own equity of firms. We propose a … on financially constrained firms; (ii) ACE and cash-flow tax systems, which are investment neutral in the neoclassical … tax relief at the return stage and provides better incentives than a cash-flow tax which gives tax relief upfront. …