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| Tekijä: | Kaneko, Y. |
| Otsikko: | Asset demand and welfare cost of capital income taxes in a life-cycle setting - an application to Japanese workers households |
| Lehti: | Economic Studies Quarterly
1994 : JUN, VOL. 45:2, p. 159-178 |
| Asiasana: | DEMAND WELFARE JAPAN |
| Kieli: | eng |
| Tiivistelmä: | Using a version of two -asset optimal lifetime consumption model with human wealth, the author analyzes the effect of income tax on interest on portfolio selection and savings rate as compared to that of capital gains tax and the combined effect of the two taxes. The author suggests a method of measuring the welfare cost of capital income taxes in which the lifi-cycle setting and apply it to Japanese workers households classified by cohort. The author calculates the ratio of compensation to lifetime expenditures consudered as a measurement of the welfare cost. |
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