dc.contributor.author | Schindler, Dirk | |
dc.date.accessioned | 2006-08-03T07:45:11Z | |
dc.date.available | 2006-08-03T07:45:11Z | |
dc.date.issued | 2004-06 | |
dc.identifier.issn | 0804-6824 | |
dc.identifier.uri | http://hdl.handle.net/11250/162782 | |
dc.description.abstract | We show in a two-period world with endogenous savings and two assets,
one of them exhibiting a stochastic return that an interest adjusted income
tax is optimal. This tax leaves a safe component of interest income tax free
and taxes the excess return with a special tax rate. There is no trade-off
between risk allocation and efficiency in intertemporal consumption. Both
goals are reached. As the resulting tax system divides income into three
parts, the tax can also be called a Triple Income Tax. This distinction and a
special tax rate on the excess return is necessary in order to have an optimal risk shifting effect. | en |
dc.format.extent | 70313 bytes | |
dc.format.mimetype | application/pdf | |
dc.language.iso | eng | en |
dc.publisher | Norwegian School of Economics and Business Administration. Department of Economics | en |
dc.relation.ispartofseries | Discussion paper | en |
dc.relation.ispartofseries | 2004:14 | en |
dc.subject | optimal taxation | en |
dc.subject | uncertainty | en |
dc.subject | consumption tax | en |
dc.subject | triple income tax | en |
dc.title | Optimal income taxation with a risky asset : the triple income tax | en |
dc.type | Working paper | en |