Taxes and life cycle capital gains realizations

Martin Jacob

Applied Economics Letters, 2013, vol. 20, issue 12, 1130-1134

Abstract: This article analyses heterogeneity in capital gains tax elasticities across individuals. Using panel data of over 260 000 individuals, I find that the sensitivity of capital gains to taxes is decreasing over the individual life cycle. Younger individuals respond more strongly to changes in capital gains taxes than older individuals. An increase in age of 18 years decreases the lock-in effect of capital gains taxes by approximately 10%.

Date: 2013
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DOI: 10.1080/13504851.2013.792988

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