What do Aggregate Consumption Euler Equations Say about the Capital Income Tax Burden?
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Aggregate consumption Euler equations fit financial asset return data poorly. But they fit the return on the capital stock well, which leads us to three empirical findings relating to the capital income tax burden. First, capital taxation drives a wedge between consumption growth and the expected
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美国国家经济研究局创建时间：
2004-02-01
