Adverse Selection In Credit Markets and Regressive Profit Taxation

Florian Scheuer

NBER Working Paper No. 18406
Issued in September 2012

---- Acknowledgements -----

I am grateful to Daron Acemoglu and Iván Werning for guidance and support. I also thank Peter Diamond, Alessandro Pavan, James Poterba, Emmanuel Saez and seminar participants at Chicago, MIT, Northwestern, Stanford, St. Gallen, UCL, Wisconsin Madison and the Review of Economic Studies European Tour at Toulouse, EUI Florence and Warwick for helpful comments and suggestions. All errors are my own. Most results in this paper were part of the earlier working paper circulated under the title “Entrepreneurial Taxation, Occupational Choice, and Credit Market Frictions.” The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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