-in-differences estimation and matching methods, indicate that dividends declined somewhat in closely held corporations that faced a tax increase …

This paper analyses the optimal taxation of dividends and other types of income from portfolio investment. We show that …, in an open economy, it is not desirable to offer double taxation relief for dividends paid by domestic firms to domestic … dividend income at the household level. A reduction of the tax burden on dividends is therefore merely an undesirable subsidy …

even if the risk-free asset return is correlated with other risky assets' returns. However, equivalence fails to hold on an …

explore the design of policy. The model highlights the critical roles played by (i) the relationship between behavioural risk … preferences, standard risk aversion and labour supply behaviour, (ii) the risk properties of education, and (iii) the degree of …