主题：A Prevention Against Bubble
Abstract：We show a solution to prevent the occurrence of the “rational’’ bubble in the asset trading. That is, a capital gain tax at 100% can induce a “real demand” while exclude “speculative demand” and then exclude “rational’’ bubble ex ante and ex post. Our proposal does not distort the asset price based on fundamentals even when the information on fundamentals is renewed. We also show that the transaction tax (Tobin's proposal) excludes “speculative demand” to exclude “rational’’ bubble only if the tax rate is equal to 100% at which market economy is ruled out, and distorts the fundamental price hence this tax is not appropriate in a market economy.
主讲人：万军民 副教授 （Fukuoka University）
主持人：张跃华 博士
时 间：2012年10月9日下午1：15-3：00
地 点：紫金港校区西2-315
承 办: 浙江大学劳动保障与社会政策研究中心
浙江大学社会保障及风险管理系
主讲人简介:
万军民副教授于2005年在日本Osaka University大学获得经济学博士学位，目前在Fukuoka University担任终身副教授。主要研究方向为农村土地问题、微观金融。已在Applied Economics，Journal of Housing Economics， Journal of Money, Credit and Banking， Review of Development Economics等期刊发表学术论文十余篇。