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De Gustibus non est Taxandum: Heterogeneity in Preferences and Optimal Redistribution
Spending Policy Taxation Theory United States
2015/4/27
The prominent but unproven intuition that preference heterogeneity reduces redistribution in a standard optimal tax model is shown to hold under the plausible condition that the distribution of prefer...
La prime de risque dans un cadre international : le risque de change est-il apprécié ?
ICAPM Integration Currency Risk
2010/11/1
In this article, we investigate whether exchange rate risk is priced. We use a multivariate GARCH-in-Mean specification and test alternative conditional international CAPM versions. Our results suppor...