Capital Gains Taxes and Asset Prices: Capitalization or Lock-In?
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This paper examines the impact on asset prices from a reduction in the long-term capital gains tax rate using an equilibrium approach that considers both demand and supply responses. We demonstrate that the equilibrium impact of capital gains taxes reflects both the capitalization effect (i.e.,
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美国国家经济研究局创建时间：
2006-06-01
