Mooij, Ruud A. de; Keen, Michael; Orihara, Masanori - International Monetary Fund (IMF) - 2013
That most corporate tax systems favor debt over equity finance is now widely recognized as, potentially, amplifying … leverage, and that this in turn is associated with a significantly greater chance of crisis. The implication is that tax bias … risks to financial stability. This paper makes a first attempt to explore, empirically, the link between this tax bias and …