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Portfolio Shuffling and Tax Reform

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  • Maki, Dean M.
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    Abstract

    Analyzes household response to the phase out of the consumer interest deduction under TRA '86. Evidence suggests that college educated, high-income taxpayers increased their mortgage debt and decreased consumer debt, in turn frustrating the intended policy.

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    Bibliographic Info

    Article provided by National Tax Association in its journal National Tax Journal.

    Volume (Year): 49 (1996)
    Issue (Month): 3 (September)
    Pages: 317-29

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    Handle: RePEc:ntj:journl:v:49:y:1996:i:no._3:p:317-29

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    1. B. Douglas Bernheim & John Karl Scholz, 1993. "Private Saving and Public Policy," NBER Chapters, National Bureau of Economic Research, Inc, in: Tax Policy and the Economy, Volume 7, pages 73-110 National Bureau of Economic Research, Inc.
    2. Richard K. Green & Patric H. Hendershott & Dennis R. Capozza, 1996. "Taxes, Mortgage Borrowing and House Prices," Wisconsin-Madison CULER working papers, University of Wisconsin Center for Urban Land Economic Research 96-06, University of Wisconsin Center for Urban Land Economic Research.
    3. Poterba, James M, 1992. "Taxation and Housing: Old Questions, New Answers," American Economic Review, American Economic Association, American Economic Association, vol. 82(2), pages 237-42, May.
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    Cited by:
    1. Green, Richard K. & Vandell, Kerry D., 1999. "Giving households credit: How changes in the U.S. tax code could promote homeownership," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 29(4), pages 419-444, July.
    2. Melvin Stephens Jr. & Jennifer Ward-Batts, 2001. "The Impact of Separate Taxation on the Intra-Household Allocation of Assets: Evidence from the UK," NBER Working Papers 8380, National Bureau of Economic Research, Inc.
    3. Slemrod, Joel, 1998. "Methodological Issues in Measuring and Interpreting Taxable Income Elasticities," National Tax Journal, National Tax Association, National Tax Association, vol. 51(n. 4), pages 773-88, December.
    4. Joel Slemrod & Shlomo Yitzhaki, 2000. "Tax Avoidance, Evasion, and Administration," NBER Working Papers 7473, National Bureau of Economic Research, Inc.
    5. Emmanuel Saez & Joel B. Slemrod & Seth H. Giertz, 2009. "The Elasticity of Taxable Income with Respect to Marginal Tax Rates: A Critical Review," NBER Working Papers 15012, National Bureau of Economic Research, Inc.
    6. Daniel Bergstresser & James Poterba, 2002. "Asset Allocation and Asset Location: Household Evidence from the Survey of Consumer Finances," NBER Working Papers 9268, National Bureau of Economic Research, Inc.
    7. Engen, Eric M. & Gale, William G., 1996. "Tax-Preferred Assets and Debt, and the Tax Reform Act of 1986: Some Implications for Fundamental Tax Reform," National Tax Journal, National Tax Association, National Tax Association, vol. 49(3), pages 331-39, September.
    8. James M. Poterba, 2001. "Taxation and Portfolio Structure: Issues and Implications," NBER Working Papers 8223, National Bureau of Economic Research, Inc.
    9. Alan J. Auerbach & Joel Slemrod, 1997. "The Economic Effects of the Tax Reform Act of 1986," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 35(2), pages 589-632, June.
    10. Martin Gervais & Manish Pandey, 2005. "Who Cares about Mortgage Interest Deductibility?," University of Western Ontario, Economic Policy Research Institute Working Papers, University of Western Ontario, Economic Policy Research Institute 20059, University of Western Ontario, Economic Policy Research Institute.
    11. Poterba, James M. & Samwick, Andrew A., 2003. "Taxation and household portfolio composition: US evidence from the 1980s and 1990s," Journal of Public Economics, Elsevier, Elsevier, vol. 87(1), pages 5-38, January.
    12. repec:hal:journl:halshs-00195354 is not listed on IDEAS
    13. Carol Bertaut & Martha Starr-McCluer, 2000. "Household portfolios in the United States," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2000-26, Board of Governors of the Federal Reserve System (U.S.).
    14. Tuukka Saarimaa, 2005. "Taxation and Debt Financing of Home Acquisition: Evidence from the Finnish 1993 Tax Reform," Discussion Papers, Government Institute for Economic Research Finland (VATT) 366, Government Institute for Economic Research Finland (VATT).
    15. Kalina Koleva, 2005. "A la recherche de l'administration fiscale optimale : l'approche par les coûts d'efficience," Cahiers de la Maison des Sciences Economiques, Université Panthéon-Sorbonne (Paris 1) r05050, Université Panthéon-Sorbonne (Paris 1).

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