文章基本信息

标题：Taxation and Regulation of Bonus Pay
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作者：Timothy Besley ; Maitreesh Ghatak
期刊名称：Distributional Analysis Publications
印刷版ISSN：1352-2469
出版年度：2011
卷号：2011
出版社：Suntory Toyota International Centres for Economics and Related Disciplines
摘要：We explore the consequence for taxation and regulation of bonus pay when investors are protected by taxpayers from downside risk. The paper develops a model where workers in financial sector firms make decisions about effort and risktaking which are influenced by the structure of bonus pay. Bailouts lead to too little effort, too much risk-taking and increase inequality. We show that the optimal structure of bonuses can be implemented by a combination of a regulation on the structure of bonuses and a tax on their level.