Several frictions restrict the government's ability to tax assets. First of all, it is very costly to monitor trades on international asset markets. Moreover, agents can resort to non-observable low-return assets such as cash, gold or foreign currencies if taxes on observable assets become too...

Thesis (Ph. D.)--University of Rochester. Dept. of Economics, 2008.

Thesis (Ph. D.)--University of Rochester. Dept. of Economics, 2008.

Thesis (Ph. D.)--University of Rochester. Dept. of Economics, 2007.