On the Portfolio Effects of Nonmarketable Assets: Government Transfers and Human Capital Payments

On the Portfolio Effects of Nonmarketable Assets: Government Transfers and Human Capital Payments

The purposes of this article are two. Some extensions to Mayers’ [1] classical work on portfolio building in the presence of nonmarketable assets are presented. In addition the implications of certain simple forms of taxation and redistribution are investigated.

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Bibliographische Detailangaben
Veröffentlicht in:Journal of financial and quantitative analysis 1979-06, Vol.14 (2), p.167-177
1. Verfasser: Rorke, C. Harvey
Format: Artikel
Sprache:eng
Schlagworte:
Cash flow
Financial portfolios
Financial securities
Human capital
Income taxes
Investors
Tax payments
Total taxes
Transfer payments
Utility functions
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Beschreibung
Zusammenfassung:The purposes of this article are two. Some extensions to Mayers’ [1] classical work on portfolio building in the presence of nonmarketable assets are presented. In addition the implications of certain simple forms of taxation and redistribution are investigated.
ISSN:0022-1090
1756-6916
DOI:10.2307/2330496