Daunfeldt, Sven-Olov () (The Swedish Retail Institute (HUI)) Praski-Ståhlgren, Ulrika () (The Department of Economics) Rudholm, Niklas () (The Swedish Retail Institute (HUI))
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The purpose of this paper is to study, using a comprehensive Swedish panel data set, whether investors are less willing to realize capital gains when the marginal tax rate on capital gains is relatively high. In Sweden capital gains are taxed independently of ordinary income at a flat rate, making it possible to avoid endogenity problems and to include direct measures of capital gains taxation in the empirical analysis. The results indicate that a 10% increase in capital gains tax rate reduces the number of realizations of capital gains with 8.7% and the realized amount, given the decision to realize, with 1.9%. In addition, wealthy individuals seem to respond more to changes in capital gains tax rates than less-wealthy individuals.
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Paper provided by The Swedish Retail Institute (HUI) in its series HUI Working Papers with number
6.
Length: 25 pages Date of creation: 31 Jan 2007 Date of revision: Handle: RePEc:hhs:huiwps:0006
Contact details of provider: Postal: The Swedish Retail Institute (HUI), Regeringsgatan 60, 103 29 Stockholm, Sweden Phone: +46 (0)8 762 72 80 Fax: +46 (0)8 679 76 06 Email: Web page: http://www.hui.se/ More information through EDIRC
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Find related papers by JEL classification: H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
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