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Please use this identifier to cite or link to this item: https://ah.lib.nccu.edu.tw/handle/140.119/35750
DC FieldValueLanguage
dc.contributor.advisor朱美麗zh_TW
dc.contributor.author薛雅月zh_TW
dc.creator薛雅月zh_TW
dc.date2003en_US
dc.date.accessioned2009-09-18T07:55:34Z-
dc.date.available2009-09-18T07:55:34Z-
dc.date.issued2009-09-18T07:55:34Z-
dc.identifierG0091258023en_US
dc.identifier.urihttps://nccur.lib.nccu.edu.tw/handle/140.119/35750-
dc.description碩士zh_TW
dc.description國立政治大學zh_TW
dc.description經濟研究所zh_TW
dc.description91258023zh_TW
dc.description92zh_TW
dc.description.abstract無zh_TW
dc.description.abstractThis study establishes a model of the stock market involving the rational speculators to investigate whether the imposition of tax on capital gains can reduce the market volatility. The finding is that the effect of tax on the stock price volatility varies according to the types of shocks hitting the market. In the cases of the issuing shock and the dividend shock, raising the tax rate could be a way to stabilize the stock market. On the contrary, when the margin-rate shock occurs, it tends to magnify the effect of the shock and therefore increases the market volatility. Thus, it could be concluded that an increase in the tax rate may increase or decrease the stock price volatility depending on the type of unexpected shocks.en_US
dc.description.tableofcontents1.Introduction…………………………………………………………1\n2.The model……………………………………………………………4\n2.1 The firm sector………………………………………………4\n2.2 Long-term shareholders…………………………………..................5\n2.3 Rational speculators……………………………………………7\n2.4 Market solution…………………………………………… 9\n3. Taxation on capital gains and the stock price volatility……………………. 12\n3.1 The issuing shock……………………………………………14\n3.2 The dividend shock………………………………………… 15\n3.3 The margin-rate shock………………………………………17\n4.Conclusion……………………………………………………… 20\nReferences………………………………………………………… 22\nAppendix…………………………………………………………… 24zh_TW
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dc.language.isoen_US-
dc.source.urihttp://thesis.lib.nccu.edu.tw/record/#G0091258023en_US
dc.subject資本利得稅zh_TW
dc.subject股價波動zh_TW
dc.subject理性投機zh_TW
dc.subjectcapital gains taxen_US
dc.subjectstock price volatilityen_US
dc.subjectrational speculationen_US
dc.titleThe Taxation on Capital Gains and the Stock Price Volatilityzh_TW
dc.title資本利得稅與股價波動zh_TW
dc.typethesisen
dc.relation.referenceAtkins A.B. and E.A. Dyl (1997), “Stock Price Volatility, Transactions Costs and Securities Transactions Taxes,” Managerial and Decision Economics, 18, pp. 709-718.zh_TW
dc.relation.referenceBlanchard, D. J. (1981), ”Output, the Stock Market, and Interest Rate,” The American Economic Review, vol.71, no.1, 132-143.zh_TW
dc.relation.referenceCarlson, J. A. and C.L. Osler,., (2000), “Rational Speculators and Exchange Rate Volatility,” European Economic Review, 44, pp. 231-253.zh_TW
dc.relation.referenceChu M.L. (2003), “Foreign Capital, Speculation and Equity Market Volatility,” NSC Research Project Report.zh_TW
dc.relation.referenceChu M.L. (2004), “Capital Controls and Equity Markets,” NSC Research Project Report.zh_TW
dc.relation.referenceChu M.L. and T.W. Tsaur (1990), “Monetary Policies, Exchange Rate and Stock Price Dynamics: Theoretical Analysis and Empirical Simulation,” Taiwan Economic Review, Vol.18, No.4 (Dec., 1990), pp. 449-466.zh_TW
dc.relation.referenceFriedman, M., (1953), Essays in positive Economics. University of Chicago Press, Chicago.zh_TW
dc.relation.referenceHsu Z.W. (2003), ”The Rational Speculation and Stock Price Volatility,” Master-Thesis (In Chinese).zh_TW
dc.relation.referenceJones C.M. and P.J. Seguin (1995), “Transactions Costs and Price Volatility: Evidence from Commission Deregulation,” Working Paper, University of Michigan.zh_TW
dc.relation.referenceMuth, J. F., (1961), “Rational Expectations and the Theory of Price Movements,” Econometrica, 29, 3, pp. 315-335.zh_TW
dc.relation.referenceSargent, Thomas J.,(1973), “Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment,” Brookings Papers on Economic Activity, vol.2, pp. 429-472.zh_TW
dc.relation.referenceSomers, H. M. (1948), “An Economic Analysis of the Capital Gains Tax,” National Tax Journal, vol.1, pp. 257-294.zh_TW
dc.relation.referenceTobin, J. (1969), “A General Equilibrium Approach to Monetary Theory,” Journal of Money, Credit and Banking, vol.1, February, pp. 15-29.zh_TW
dc.relation.referenceTobin, J. (1978), “A Proposal for International Monetary Reform,” Eastern Economic Journal, 4, pp. 153-159.zh_TW
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