This paper analyzes the effects of the 2014-15 Chilean tax reform on firms' incentives to retain earnings and finance their operations with equity versus debt. The analysis comprises a comparison with the situation of the pre-reform period, and draws some conclusions about firms' valuation. The...

This book seeks to expand analytically on standard institutionalist accounts of taxation by bringing into the explanatory framework the importance of institutional strength (not just design) as well as informal institutions (in addition to formal ones) for policy reform