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The traditional literature on the CAPM assumes that investor's tax payments simply vanish from the model. This assumption is not at all consistent with the actual behavior of the Treasury. The theory of general equilibrium states that an interest rate rf = 0 will not affect prices if taxes are...
Persistent link: https://www.econbiz.de/10009447474
The traditional literature on the CAPM assumes that investor's tax payments simply vanish from the model. This assumption is not at all consistent with the actual behavior of the Treasury. The theory of general equilibrium states that an interest rate rf = 0 will not affect prices if taxes are...
Persistent link: https://www.econbiz.de/10010421340
In der Literatur zur Steuerwirkung des CAPM wurde bisher unterstellt, dass die Steuerzahlungen nicht an die Marktteilnehmer zurückverteilt werden. Diese Annahme ist unrealistisch. Wir lassen sie in diesem Modell fallen. Aus der allgemeinen Gleichgewichtstheorie ist bekannt, dass bei einem...
Persistent link: https://www.econbiz.de/10003888444
The traditional literature on the CAPM assumes that investor's tax payments simply vanish from the model. This assumption is not at all consistent with the actual behavior of the Treasury. The theory of general equilibrium states that an interest rate rf = 0 will not affect prices if taxes are...
Persistent link: https://www.econbiz.de/10003916761
Persistent link: https://www.econbiz.de/10009306006
Persistent link: https://www.econbiz.de/10010518696
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