Inflation, Tax Rules, and the Stock Market

Martin Feldstein

No 403, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper shows how the interaction of tax rules and expected inflation can decrease substantially the share price per dollar of pretax earnings. The current analysis extends my earlier study [Feldstein (1978)] by recognizing corporate debt, retained earnings, and the role of diverse shareholder investments. As before, the analysis separates household and institutional investors.

Date: 1979-11
Note: PE
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Published as Feldstein, Martin. "Inflation, Tax Rules and the Stock Market." Journal of Monetary Economics, Vol. 6, No. 3, (July 1980), pp. 309-331.
Published as Inflation, Tax Rules, and the Stock Market , Martin Feldstein. in Inflation, Tax Rules, and Capital Formation , Feldstein. 1983

Downloads: (external link)
http://www.nber.org/papers/w0403.pdf (application/pdf)

Related works:
Chapter: Inflation, Tax Rules, and the Stock Market (1983)
Journal Article: Inflation, tax rules and the stock market (1980)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:0403

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w0403

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().