Revenue‐Neutral Tax Policies under Price Uncertainty
研究价格不确定下企业如何应对收入中性税收政策，发现非递增绝对风险厌恶足以确定企业反应：边际税率降低导致企业缩减产量，并讨论了国库收入的均衡水平。
Abstract The firm's response to revenue‐neutral taxation is investigated under price uncertainty. Revenue‐neutral policies adjust simultaneously the marginal tax rate and the level of exemptions while keeping expected tax receipts constant. Nonincreasing absolute risk aversion is sufficient to sign the firm's response: a reduction in the marginal rate causes the firm to contract output. Implications are established for the equilibrium level of treasury receipts.