Realization and Revenue Effects of Lifetime Capital Gains Exemptions
This paper derives estimates of the revenue costs of lifetime capital gains exemptions. Since the exemptions provided a significant stimulus to realizations of capital gains for both shares and real estate, previously published 'tax expenditure' estimates overstate the revenue cost of these exemptions The authors provide alternative estimates of the net present value of the revenue costs of the exemptions which take into account their stimulative impact on realizations.
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Volume (Year): 21 (1995)
Issue (Month): s1 (November)
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Joseph E. Stiglitz, 1983.
"Some Aspects of the Taxation of Capital Gains,"
NBER Working Papers
1094, National Bureau of Economic Research, Inc.
- Constantinides, George M, 1983. "Capital Market Equilibrium with Personal Tax," Econometrica, Econometric Society, vol. 51(3), pages 611-36, May.
- David F. Burgess, 1981. "The Social Discount Rate for Canada: Theory and Evidence," Canadian Public Policy, University of Toronto Press, vol. 7(3), pages 383-394, Summer.
- Marchand, M. & Mintz, J. & Pestieau, P., 1984.
"Shadow pricing of labour and capital in an economy with unemployed labour,"
European Economic Review,
Elsevier, vol. 25(2), pages 239-252, July.
- Marchand, M. & Mintz, J. & Pestieau, P., . "Shadow pricing of labour and capital in an economy with unemployed labour," CORE Discussion Papers RP -628, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Poterba, James M., 1987. "How burdensome are capital gains taxes?: Evidence from the United States," Journal of Public Economics, Elsevier, vol. 33(2), pages 157-172, July.
- Glenn P. Jenkins, 1981. "The Public-Sector Discount Rate for Canada: Some Further Observations," Canadian Public Policy, University of Toronto Press, vol. 7(3), pages 399-407, Summer.
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