Transitional dynamics of dividend and capital gains tax cuts
نویسندگان
چکیده
منابع مشابه
A Schumpeterian Analysis of Decit-Financed Dividend Tax Cuts
I propose a Schumpeterian analysis of the e¤ects of a de cit- nanced cut of the tax rate on distributed dividends. I develop a very tractable model that allows me to study analytically transition dynamics and welfare, and complement the qualitative results with a quantitative assessment of the Job Growth and Taxpayer Relief Reconciliation Act (JGTRRA) of 2003. I nd that the JGTRRA produces low...
متن کاملCross-base tax elasticity of capital gains
This paper studies the cross-base tax elasticity of capital gains realizations to labor income taxes when capital gains are taxed at a separate proportional tax rate. Using a longitudinal panel of over 265,000 individuals in Sweden, this paper shows in a regression kink design that labor income taxes affect capital gains at the extensive and intensive margins. An increase in the marginal labor ...
متن کاملEx-Dividend Day Returns when Dividend and Capital Gains are Taxed at the Same Rate
Due to the overwhelming international evidence that stock prices drop by less than the dividend paid on ex-dividend days, the ex-dividend day anomaly is considered a stylized fact. Two main approaches have emerged to explain this empirical regularity: the tax-clientele hypothesis and the microstructure of financial markets. Although the most widely accepted explanation for this fact relies on t...
متن کاملCapital Tax Reform and the Real Economy: The Effects of the 2003 Dividend Tax Cut
This paper tests whether the 2003 dividend tax cut—one of the largest reforms ever to a US capital tax rate—stimulated corporate investment and increased labor earnings, using a quasi-experimental design and US corporate tax returns from years 1996–2008. I estimate that the tax cut caused zero change in corporate investment and employee compensation. Economically, the statistical precision chal...
متن کاملNew Evidence on the Tax Elasticity of Capital Gains
To enhance the transparency of CBO’s work and to encourage external review of that work, CBO’s working paper series includes both papers that provide technical descriptions of official CBO analyses and papers that represent original, independent research by CBO analysts. Working papers are not subject to CBO’s regular review and editing process. Papers in this series are available at http://go....
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2011
ISSN: 1094-2025
DOI: 10.1016/j.red.2010.06.002