The Decline in Aggregate Share Values: Inflation, Taxation, Risk and Profitability
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With a neutral tax system an increase in observed and anticipated inflation would not be expected to alter either real after-tax yields on bonds and equities or the ratio of the market value of equities to the replacement cost of corporate real capital. In the real world, however, declines in real
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美国国家经济研究局创建时间：
1979-07-01
