منابع مشابه
The Gains from International Risk-Sharing
Keith Sill is a senior economist in the Research Department of the Philadelphia Fed. Our economy has become increasingly global. We import and export more than ever before. Yet, three facts about international financial transactions, when taken together, pose a puzzle. First, financial capital moves freely across country borders, at least in the case of the developed countries. Returns on simil...
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Capital requirements are the principal tool of macroprudential regulation of banks. Bank capital serves both as a buffer and as a disincentive to excessive risk taking. When general equilibrium effects are taken into account, however, it is not clear that higher capital requirements will reduce the level of risk in the banking system. In addition, an increase in the required capital ratio can f...
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As an input to its estimates of federal revenues, the Congressional Budget Office (CBO) requires an estimate of capital gains realizations in the current calendar year and forecasts of realizations for the next 10 years. The purpose of our study is to improve the accuracy of the current-year estimates. As background, we describe the models and methods that CBO now uses and briefly mention model...
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Recent years have seen large swings in house prices in many countries. Motivated by housing price variations, proposals for taxing capital gains (nominal or real) on housing have repeatedly been put forth. The idea seems to be that such taxes would curb the redistribution occurring between those owning houses and those trying to get into the market for owner-occupied housing. Our paper shows th...
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The taxation of capital gains is a perennial issue in tax policy. One critical aspect for understanding the overall effects of capital gains taxation is how these taxes affect entrepreneurs. While many analyses focus on the disincentive effects created by capital gains taxes for investors in large corporations, these disincentives may be even more important for entrepreneurs. This paper discuss...
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ژورنال
عنوان ژورنال: Canadian Journal of Economics/Revue canadienne d'économique
سال: 2012
ISSN: 0008-4085,1540-5982
DOI: 10.1111/j.1540-5982.2012.01702.x