Retrospective Capital Gains taxation in the real world

Francesco Menoncin () and Paolo Panteghini

Working Papers from University of Brescia, Department of Economics

Abstract: In this article, we analyze Auerbach's (1991) proposal of a retrospective capital gains tax, which is equivalent to an accrual tax on an ex-ante basis. Using a continuous-time model with stochastic interest rates and serially correlated asset returns, we prove that such an equivalence still holds. This means that in a more realistic setting the realization-based systems requires no ad hoc adjustment for equivalence to hold.

Date: 2009
New Economics Papers: this item is included in nep-acc and nep-pub
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Citations: View citations in EconPapers (8)

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Working Paper: Retrospective Capital Gains Taxation in the Real World (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:ubs:wpaper:0910

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