This paper studies optimal taxation of entrepreneurial capital with private information and multiple assets …. Entrepreneurial activity is subject to a dynamic moral hazard problem and entrepreneurs face idiosyncratic capital risk. We first … optimal tax system implements such an allocation as a competitive equilibrium for a given market structure. We consider …

This paper studies the nature of capital adjustment at the plant-level. We use an indirect inference procedure to … estimate the structural parameters of a rich specification of capital adjustment costs. In effect, the parameters are optimally … chosen to reproduce the nonlinear relationship between investment and profitability that we uncover in the plant-level data …

We propose a model consistent with two observations. First, the tax rates adopted by different countries are generally … uncorrelated with their growth performance. Second, countries that drastically reduce private incentives to invest, severely hurt … their growth performance. In our model, the effects of taxation on growth are highly non-linear. Low or moderate tax rates …

The paper studies the effects of tax policy on venture capital activity. Entrepreneurs pursue a single high risk … managerial advice. It considers dierential wage and capital income taxes, a comprehensive income tax, incomplete loss offset … and base salary to assure their incentives for full effort. In addition to providing equity finance, venture capitalists …

the costs associated with investment in fiber-optic networks are likely recoverable in some markets, but that there is a … large gap between social and private incentives to invest …

This paper examines the characteristics of and interactions among measures to effect saving and investment incentives … ("S-I incentives")in the context of an income tax system that is inadequately indexed for inflation. Examples are … incentives are classified into "consumption tax" and "direct grant" types, and it is shown that these differ in their influence …

: greater investment by an agent shifts the attack to other parts of the network …

the present value of the returns from an initial investment of [1pound], using the social discount rate, should be equal … revisions in evaluating the neutrality of different incentives. Another point we would make is that Boadway's results depend … these important elements of the problem, general results about the neutrality of different incentives can no longer be …

incentives and limits of hard information verifiability. Using unique data where loans are based on hard information, and loan …