[KSCI] Korea Science Citation Index Service

http://dx.doi.org/10.14403/jcms.2018.31.1.65

THE EFFECTS OF TAXATION ON OPTIMAL CONSUMPTION AND INVESTMENT

Lim, Byung Hwa (Department of Economics and Finance The University of Suwon)

Publication Information

Journal of the Chungcheong Mathematical Society / v.31, no.1, 2018 , pp. 65-73 More about this Journal

Abstract

We investigate the optimal consumption and investment problem of working agent who faces tax system on consumption, labor income, savings and investment. By applying martingale method, we obtain the closed-form solutions so it is possible to verify the effect of tax system analytically.

Keywords

portfolio selection; stochastic income; taxation; martingale approach;

Citations & Related Records

Reference

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