全球智库信息集成服务系统(G2TT): Taxation of Asset Income in the Presence of a World Securites Market

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w1994
来源ID	Working Paper 1994
	Taxation of Asset Income in the Presence of a World Securites Market
	Roger H. Gordon; Hal R. Varian
发表日期	1986-08-01
出版年	1986
语种	英语
摘要	This paper shows, using a standard CAPM model of security prices in a world market, that even small countries can affect the price of domestically issued risky securities, while large countries can affect the prices of all securities. As a result, countries have the incentive to set tax rates such that in equilibrium investors specialize in domestic securities, and net capital flows between countries are restricted. Each country does this to increase the utility of domestic residents, taking as given the tax policies of other governments, but the net outcome is a reduction in world efficiency and likely a reduction in the utility of all individuals.
主题	Macroeconomics ; International Economics
URL	https://www.nber.org/papers/w1994
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/559246
推荐引用方式 GB/T 7714	Roger H. Gordon,Hal R. Varian. Taxation of Asset Income in the Presence of a World Securites Market. 1986.