What does it mean for a tax code to be convex? If a countrys corporate tax rate

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What does it mean for a tax code to be convex? If a country’s corporate tax rate is flat, does it make sense for a firm to hedge?

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International Financial Management

ISBN: 978-0132162760

2nd edition

Authors: Geert Bekaert, Robert J. Hodrick

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Question Posted: May 28, 2012 02:33 AM

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What does it mean for a tax code to be convex? If a countrys corporate tax rate

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A convex tax code imposes a larger tax rate on higher incomes and a sm...View the full answer

International Financial Management

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