학술저널
THE EFFECTS OF TAXATION ON OPTIMAL CONSUMPTION AND INVESTMENT
- 충청수학회
- Journal of the Chungcheong Mathematical Society
- Volume 31, No. 1
-
2018.0265 - 73 (9 pages)
- 2
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.
1. Introduction
2. The Financial Market
3. Optimization Problem
4. The Solutions
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