Capital gains realizations

IF 2.1 4区经济学 Q2 ECONOMICS

Economics Letters Pub Date : 2024-09-28 DOI:10.1016/j.econlet.2024.111990

James R. Hines Jr. , Daniel Schaffa

引用次数: 0

Abstract

If there are important nondeductible costs to long-term investing, then higher capital gains tax rates may encourage or discourage investors from realizing accumulated gains. This ambiguity suggests that the sizeable observed effects of capital gains taxes on realizations may partly reflect factors other than the time value of money, such as investor anticipations of future tax rate changes.

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资本收益变现

如果长期投资存在重要的不可抵扣成本，那么较高的资本利得税率可能会鼓励或阻碍投资者实现累积收益。这种模糊性表明，所观察到的资本利得税对变现的巨大影响可能部分反映了货币时间价值以外的因素，如投资者对未来税率变化的预期。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economics Letters ECONOMICS-

CiteScore

3.20

自引率

5.00%

发文量

348

审稿时长

30 days

期刊介绍： Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.