IMF paper seeks to quantify debt bias
Tax systems create “pervasive” debt bias, authors find
Tax systems are encouraging the build-up of debt bias, and the problem looks set to worsen, according to a working paper published by the International Monetary Fund on November 10.
Oana Luca and Alexander Tieman model and estimate debt bias in both traditional banks and many players in the non-bank sector in their paper Financial sector debt bias. The bias is "pervasive", they find, accounting for as much as 10% of total leverage among banks and 20% for investment banks.
Banks are exiting the
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