学术信息

2017系列学术报告之九

来源: 发布日期:2017-03-23


题目:资本利得税与最优投资消费问题

 

主讲人:杨晨

 

时间:325日(周六)下午14: 00-15: 00

 

地点:3-309

 

主讲人概况:杨晨,2016年于新加坡国立大学获得博士学位,同年在新加坡国立大学风险管理研究所(RMI)从事研究工作。研究方向包括不完全市场中的最优投资消费问题、结构化衍生品定价以及企业金融;曾在金融类三大顶级期刊之一《The Review of Financial Studies》上发表文章。

 

报告概况:In this talk, we discuss an optimal investment and consumption model that takes into account the asymmetric tax rates structure on capital gains and limited tax deductibility of capital losses. This model can help explain why many investors not only defer short-term capital losses to long term but also defer large long-term capital gains and losses. We also find that, for lower-income investors, effective tax rates can decrease as the short-term capital gains tax rates increase, therefore lower-income investors may benefit from an increase in the short-term tax rates.