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The Lock-In Effect of the Capital Gains Tax

其他書名	Some Time Series Evidence
出版	National Bureau of Economic Research, 1978
URL	http://books.google.com.hk/books?id=wOxpNAEACAAJ&hl=&source=gbs_api

註釋This study presents time-series evidence indicating that capital gains taxation reduces the realization of capital gains. The "lock-in" effect is detectable once we divide individuals into categories on the basis of how much recent capital gains tax in- creases have affected them. Since the tax law changes, those individeals who are affected have realized significantly ldss capital gains relative to those not affected. This analysis, in `ddition to evidence fpom cross-sectional research reported in Feldstein and Yitzhaki (1978) and Feldstein, Slemrod and Qitzhaki (1978), indicates that estimates of the tax revenue change resulting from a reduction in capital gains taxation based on the assumption of unchanged realized gains may be misleading