A Problem of Financial Market Equilibrium When the Timing of Tax Payments is Indeterminate
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https://www.nber.org/papers/w1713
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If firms are indifferent about the timing of dividends, the government's cash flow from taxes on dividends is indeterminate. In an earlier paper, I showed in the context of a world without uncertainty that variations in tax receipts from this source would have no real effects. The extension of the
提供机构：
美国国家经济研究局
创建时间：
1985-10-01
