and aggregate demand conditions. We find that firms with higher debt levels and a higher share of short-term debt reduce …

major transitions during the past few years: Private Equity; Private Debt; and Collective Investment Vehicles. …

on financially constrained firms; (ii) ACE and cashflow tax systems, which are investment neutral in the neoclassical … banks, investment is subject to double moral hazard and the timing of tax payments becomes important. The ACE system gives … tax relief at the return stage and provides better incentives than a cash-flow tax which gives tax relief upfront …

according to the hierarchical status of the respective market participant, and can therefore endanger sovereign debt …

introduction of the so-called ACE corporate tax reform in Belgium that came into effect in January 2006 to evaluate this …