Measuring permanent responses to capital-gains tax changes in panel data

摘要: The authors use panel data and information about differences in state tax rates to separate the effects of transitory permanent rate changes on capital-gains realizations behavior. estimated effect change is substantially smaller than change. difference even larger between estimates from past micro studies, which have primarily measured effect, time-series effect. authors' results resolve a long-standing conflict studies how marginal affect Copyright 1994 by American Economic Association.