题目：资本利得税与最优投资消费问题
主讲人：杨晨
时间：3月25日（周六）下午14: 00-15: 00
地点：3-309
主讲人简介：杨晨，2016年于新加坡国立大学获得博士学位，同年在新加坡国立大学风险管理研究所（RMI）从事研究工作。研究方向包括不完全市场中的最优投资消费问题、结构化衍生品定价以及公司金融；曾在金融类三大顶级期刊之一《The Review of Financial Studies》上发表文章。
报告简介：In this talk, we discuss an optimal investment and consumption model that takes into account the asymmetric tax rates structure on capital gains and limited tax deductibility of capital losses. This model can help explain why many investors not only defer short-term capital losses to long term but also defer large long-term capital gains and losses. We also find that, for lower-income investors, effective tax rates can decrease as the short-term capital gains tax rates increase, therefore lower-income investors may benefit from an increase in the short-term tax rates.
