The effect of imperfect loss offsetting in corporate and personal tax law is analyzed. In a two-period model with technical uncertainty, the cost of capital is derived taking into account taxes, inflation and risk. Imperfect loss offsetting could raise the cost of capital and deter investment....

Are taxes an important determinant of business activity? If they are, what are the implications for public policy? The four surveys of this volume provide a detailed description of the current state of knowledge for specialists in tax policy. In this essay we develop some of the common themes....

The World Health Organization has advocated the earmarking of health-related taxes to mobilize revenues to be spent on public health spending. While there are certain advantages and disadvantages in the use of earmarked taxes to fund healthcare, its ability to mobilize revenues will depend on...