Shall We Tax the Risk Premium?

Arbeitspapier

Should the realized risk premium be taxed – or not? In a simple two asset portfolio model we analyze the optimal taxation rule when the economy faces aggregate risk. We show in an appropriate designed tax system, that the risk premium of the risky asset should be fully taxed if the households are risk neutral in public consumption. If they are risk averse in public consumption, too, a positive tax rate below 100 % is optimal. We show further, that an efficient risk allocation between public and private consumption can be achieved without any distortion costs.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CoFE Discussion Paper ; No. 02/17

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Household Behavior: General ; Taxation and Subsidies: Efficiency; Optimal Taxation ; Portfolio Choice; Investment Decisions
• Thema: Risk-Taking ; Risk Premium ; Optimal Taxation ; Aggregate Risk ; Kapitalertragsteuer ; Risikoprämie ; Optimale Besteuerung ; Gesamtwirtschaftlicher Konsum ; Öffentlicher Konsum ; Risiko ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Schindler, Dirk ; Hilgers, Bodo
• Ereignis: Veröffentlichung
• (wer): University of Konstanz, Center of Finance and Econometrics (CoFE)
• (wo): Konstanz
• (wann): 2002

Weitere Informationen

• Handle: http://hdl.handle.net/10419/23551
• URN: urn:nbn:de:bsz:352-opus-9473
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ