Fatica, Serena; Heynderickx, Wouter; Pagano, Andrea - 2018
jurisdictions where the banking group operates. Then, we evaluate the effects that establishing tax neutrality between debt and … equity finance has on systemic risk. We show that the degree of coordination in implementing the hypothetical tax reform … the event of a severe banking crisis. By contrast, uncoordinated tax reforms are not equally beneficial. This is because …