Modigliani and Miller at the IMF

In a paper on tax policy, leverage and macroeconomic stability published on 10 November, the IMF staff address the issue of excessive leverage or the so-called “debt bias” that poses risks for financial and macroeconomic stability. The “debt bias” has been largely created by more favorable tax treatment of debt relatively to equity. In most ... Read more
The post Modigliani and Miller at the IMF appeared first on EconoMonitor.