How Much and How Fast Do Investors Respond to Equity Premium Changes? Evidence from Wealth Taxation
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Using administrative panel data on Norwegian investors portfolios, we document strong but slow portfolio allocation responses to a persistent wealth-tax-induced shock to the equity premium. Short-run responses resemble the modest sensitivity documented using surveys. The longer-run responses are
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美国国家经济研究局创建时间：
2026-06-01
