Capital Gains Tax Realizations and Tax Rates: New Evidence From Time Series

Matthew Eichner and Todd Sinai

National Tax Journal, 2000, vol. 53, issue 3, 663-82

Abstract: Using data from the 1986 through 1997 period, we update the time series evidence on the response of capital gains realizations to tax rates. In general, we find higher long-run elasticities than reported in many previous studies, but the estimates decrease substantially when the influence of 1986 is effectively removed. We explore several explanations for a diminished behavioral response in the period following fundamental tax reform, finding some suggestive evidence that the response may be dulled in part by a succession of rate changes in a relatively short period and the increasing role of mutual funds in households’ portfolios.

Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:ntj:journl:v:53:y:2000:i:3:p:663-82

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