welfare consequences of volatile tax revenue

costs from volatility and deadweight loss, but this paper shows that, of these ... a Taylor expansion of the difference between expected utility funct...

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2 Previous papers which have examined revenue aspects of the UK corporation tax include Young (1992), Basu et al. (2003), Metz and Weale. (2003), and Devereux et al. (2004). The first three papers generally focus on forecasting models or methods, and

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