TITLE

Recession, Taxes and Moral Hazard

AUTHOR(S)
Malpass, David
PUB. DATE
April 2007
SOURCE
Forbes Asia;4/16/2007, Vol. 3 Issue 6, p16
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article talks about recessions, taxes and moral hazards. Recessions are a cyclical response to private-sector excesses, causing an overdue, sharp downturn. According to the author, they are primarily caused when governments depart from the growth recipe of stable money and a preference for low tax rates. In the financial realm, moral hazard occurs when central banks provide extra liquidity during and after financial crises.
ACCESSION #
24939932

 

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