Tax Asymmetries and Corporate Income Tax Reform
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This paper investigates the impact of tax asymmetries (the lack of full loss offsets) under current corporate income tax law and a stylized tax reform proposal. The government's tax claim on the firm's pretax cash flows is modelled as a series of path-dependent call options and valued by option
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美国国家经济研究局创建时间：
1986-05-01
