Valuing the Right to Tax Incomes: An Options Pricing Approach
This paper uses options pricing techniques to estimate the value of the government's tax claim on household or business incomes. It treats the annual tax claim as a European call option on taxable income (a European call is an option that can be exercised at its expiration date and not before)....
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
1996
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| Schriftenreihe: | OECD Economics Department Working Papers
no.160 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper uses options pricing techniques to estimate the value of the government's tax claim on household or business incomes. It treats the annual tax claim as a European call option on taxable income (a European call is an option that can be exercised at its expiration date and not before). The option's expiration date is the end of the fiscal year and its strike price is the threshold level of income below which income is not subject to tax. The paper derives three alternative valuation formulas, each associated with an alternative functional form for the tax code (a flat tax, a step-function and a more general tax function). The application of options pricing theory to tax claims is found to be relatively straightforward. The approach proposed here could be used to refine accounting on the assets side of the government's balance sheet. It would not be more difficult to implement than many common applications of options theory ... |
| Beschreibung: | 1 Online-Ressource (19 p.) 21 x 29.7cm. |
| DOI: | 10.1787/240606828720 |
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| 245 | 1 | 0 | |a Valuing the Right to Tax Incomes |b An Options Pricing Approach |c Teun, Draaisma and Kathryn, Gordon = Évaluation du droit d'imposition des revenus : Approche basée sur le prix des options / Teun, Draaisma et Kathryn, Gordon |
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| 520 | |a This paper uses options pricing techniques to estimate the value of the government's tax claim on household or business incomes. It treats the annual tax claim as a European call option on taxable income (a European call is an option that can be exercised at its expiration date and not before). The option's expiration date is the end of the fiscal year and its strike price is the threshold level of income below which income is not subject to tax. The paper derives three alternative valuation formulas, each associated with an alternative functional form for the tax code (a flat tax, a step-function and a more general tax function). The application of options pricing theory to tax claims is found to be relatively straightforward. The approach proposed here could be used to refine accounting on the assets side of the government's balance sheet. It would not be more difficult to implement than many common applications of options theory ... | ||
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| indexdate | 2024-11-26T14:55:56Z |
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| language | English |
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| spelling | Draaisma, Teun VerfasserIn aut Valuing the Right to Tax Incomes An Options Pricing Approach Teun, Draaisma and Kathryn, Gordon = Évaluation du droit d'imposition des revenus : Approche basée sur le prix des options / Teun, Draaisma et Kathryn, Gordon Évaluation du droit d'imposition des revenus Paris OECD Publishing 1996 1 Online-Ressource (19 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.160 This paper uses options pricing techniques to estimate the value of the government's tax claim on household or business incomes. It treats the annual tax claim as a European call option on taxable income (a European call is an option that can be exercised at its expiration date and not before). The option's expiration date is the end of the fiscal year and its strike price is the threshold level of income below which income is not subject to tax. The paper derives three alternative valuation formulas, each associated with an alternative functional form for the tax code (a flat tax, a step-function and a more general tax function). The application of options pricing theory to tax claims is found to be relatively straightforward. The approach proposed here could be used to refine accounting on the assets side of the government's balance sheet. It would not be more difficult to implement than many common applications of options theory ... Economics Gordon, Kathryn MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/240606828720 Volltext |
| spellingShingle | Draaisma, Teun Valuing the Right to Tax Incomes An Options Pricing Approach Economics |
| title | Valuing the Right to Tax Incomes An Options Pricing Approach |
| title_alt | Évaluation du droit d'imposition des revenus |
| title_auth | Valuing the Right to Tax Incomes An Options Pricing Approach |
| title_exact_search | Valuing the Right to Tax Incomes An Options Pricing Approach |
| title_full | Valuing the Right to Tax Incomes An Options Pricing Approach Teun, Draaisma and Kathryn, Gordon = Évaluation du droit d'imposition des revenus : Approche basée sur le prix des options / Teun, Draaisma et Kathryn, Gordon |
| title_fullStr | Valuing the Right to Tax Incomes An Options Pricing Approach Teun, Draaisma and Kathryn, Gordon = Évaluation du droit d'imposition des revenus : Approche basée sur le prix des options / Teun, Draaisma et Kathryn, Gordon |
| title_full_unstemmed | Valuing the Right to Tax Incomes An Options Pricing Approach Teun, Draaisma and Kathryn, Gordon = Évaluation du droit d'imposition des revenus : Approche basée sur le prix des options / Teun, Draaisma et Kathryn, Gordon |
| title_short | Valuing the Right to Tax Incomes |
| title_sort | valuing the right to tax incomes an options pricing approach |
| title_sub | An Options Pricing Approach |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/240606828720 |
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