The taxation of trades in assets

A. Citanna; H. M. Polemarchakis; M. Tirelli

doi:10.1016/j.jet.2004.11.003

The taxation of trades in assets

A. Citanna, H. M. Polemarchakis, M. Tirelli

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

When the asset market is incomplete, there typically exist taxes on trades in assets that are Pareto improving. This fiscal policy is anonymous, it is fully and correctly anticipated by traders, and it results in ex post Pareto optimal allocations; as such, it improves over previously proposed constrained interventions.

Original language	English (US)
Pages (from-to)	299-313
Number of pages	15
Journal	Journal of Economic Theory
Volume	126
Issue number	1
DOIs	https://doi.org/10.1016/j.jet.2004.11.003
State	Published - Jan 2006

Keywords

Competitive equilibrium
Incomplete asset markets
Pareto improvement
Taxes

ASJC Scopus subject areas

Economics and Econometrics

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10.1016/j.jet.2004.11.003

Cite this

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title = "The taxation of trades in assets",

abstract = "When the asset market is incomplete, there typically exist taxes on trades in assets that are Pareto improving. This fiscal policy is anonymous, it is fully and correctly anticipated by traders, and it results in ex post Pareto optimal allocations; as such, it improves over previously proposed constrained interventions.",

keywords = "Competitive equilibrium, Incomplete asset markets, Pareto improvement, Taxes",

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KW - Incomplete asset markets

KW - Pareto improvement

KW - Taxes

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The taxation of trades in assets

Abstract

Keywords

ASJC Scopus subject areas

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