Retrospective Capital Gains taxation in the real world

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.

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Year of publication:	2009
Authors:	Menoncin, Francesco ; Panteghini, Paolo
Institutions:	Dipartimento di Economia e Management, Università degli Studi di Brescia

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Series:	Working Papers.
Type of publication:	Book / Working Paper
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008556963