The taxation of trades in assets

Alessandro Citanna (), Heracles M. Polemarchakis and Mario Tirelli ()
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Alessandro Citanna: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique

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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: Taxes; Pareto improvement; Incomplete asset markets; Competitive equilibrium (search for similar items in EconPapers)
Date: 2006-01
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Citations: View citations in EconPapers (16)

Published in Journal of Economic Theory, 2006, 126 (1), pp.299-313. ⟨10.1016/j.jet.2004.11.003⟩

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Related works:
Journal Article: The taxation of trades in assets (2006)
Working Paper: The taxation of trades in assets (2001)
Working Paper: The Taxation of Trades in assets (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00009847

DOI: 10.1016/j.jet.2004.11.003

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