in The Review of Financial Studies
September 2015; p ublished online April 2015 .
Journal Article. Subjects: Intertemporal Choice and Growth; Tax Law; Economics; Taxation, Subsidies, and Revenue. 13680 words.
We develop an optimal tax-timing model that takes into account asymmetric long-term and short-term tax rates for positive capital gains and limited tax deductibility of capital losses. In...