Search Results - subject:"Kapitalertragsteuer"

Investor valuation, taxation, and time varying expected returns

Bjerksund, Petter; Schjelderup, Guttorm - 2026

This paper analyzes the valuation of publicly traded stocks subject to capital income and wealth taxation when expected returns are time-varying. We show that, in an efficient capital market, investor valuation coincides with the market price under a broad class of tax systems, including accrued...

Persistent link: https://www.econbiz.de/10015654699

Wealth taxation, capital gains taxation and the inequality-mobility trade-off

Langenhove, Christophe van; Lorenz, Jan; Schulz-Gebhard, Jan - 2026

We compare wealth taxes and capital gains taxes in a random growth model with idiosyncratic investment risk. At equal tax revenue, wealth taxes generate higher wealth inequality but also higher wealth mobility than capital gains taxes. The mechanism operates through variance: wealth taxes shift...

Persistent link: https://www.econbiz.de/10015608613

Factor income taxation and the governance dividend

Masi, Tania; Savoia, Antonio; Sen, Kunal - 2026

An influential literature suggests that the rise of taxation should come with a 'governance dividend': the quality of government should improve, because the taxpaying citizenry will subject the ruler to increased scrutiny. While this fits the history of nowadays advanced economies, it is less...

Persistent link: https://www.econbiz.de/10015612454

Distortions for nothing : optimal taxation of (un)distributed profits

Lehmann, Etienne; Zanoutene, Eddy - 2026

We study the optimal taxation of corporate and dividend income when entrepreneurs can use retained earnings to reduce their tax burden. We show that eliminating dividend taxes while increasing the corporate income tax (CIT) to keep investment unchanged raises total tax revenue. Our simulations...

Persistent link: https://www.econbiz.de/10015592346

Show one more version 1

Distortions for nothing : optimal taxation of (un)distributed profits*

Lehmann, Etienne; Zanoutene, Eddy - 2026

Book / Working Paper

Putting the "finance" into "public finance" : a theory of capital gains taxation

Aguiar, Mark; Moll, Benjamin; Scheuer, Florian - 2026 - First version: May 2024, this version: February 2026

Standard optimal capital tax theory abstracts from modeling asset prices, making it unsuitable for thinking about capital gains and wealth taxation. We study optimal redistributive taxation in an environment with asset price movements, adopting the modern finance view that asset prices fluctuate...

Persistent link: https://www.econbiz.de/10015596733

The potential and utility of land value taxation : a theoretical framework and simulation for China

Hou, Yilin; Kumhof, Michael; Shao, Lei - 2026

This paper develops an analytical framework for examining land taxation in the context of contemporary urban economies. We dissect the China case for simulation, comparing two model-based scenarios where revenue losses from consumption taxes are replaced by higher income taxes and land taxes. We...

Persistent link: https://www.econbiz.de/10015596752

Optimal taxation in the automation era

Nakatani, Ryota; Miyamoto, Hiroaki - 2026

Persistent link: https://www.econbiz.de/10015638664

Differential capital taxation and risk premia : a separation result

Menoncin, Francesco; Panteghini, Paolo - 2026

The article studies differential capital taxation - distinct rates on interest income and risky profits - in a continuous-time representative-agent general equilibrium model with complete markets. It derives closed-form expressions for the equilibrium risk-free rate and the market price of risk....

Persistent link: https://www.econbiz.de/10015638859

Dual income taxation and top income shares

Ceraolo, Michele; Iacono, Roberto; Rios-Avila, Fernando - 2026

This paper investigates the distributional consequences of Dual Income Taxation (DIT), a system that taxes labour income progressively while applying a flat rate to capital income. We make two complementary contributions. First, we classify income tax systems across 20 advanced economies from...

Persistent link: https://www.econbiz.de/10015638985

Risky investment, tax competition, and wealth inequality

Tamai, Toshiki - 2026

Persistent link: https://www.econbiz.de/10015647089