Omitted Variable Bias in Time Series Estimates of Capital Gains Realizations

摘要: This paper addresses the omitted variable problem in time series studies of individual capital gains realizations. While not directly identifying variables, I use realizations corporate to test for common variables. Jointly estimating and provides more efficient estimates than traditional single-equation models. The results provide empirical support variables being important In both or multi-equation models controlling greatly reduces estimated elasticities gains.