Are High Income Individuals Better Stock Market Investors?
This paper presents evidence that the corporate stock owned by high income investors appreciates substantially faster than the stock owned by investors with lower incomes. Those with very high incomes enjoy the greatest success on their investments while those with incomes under $20,000 have the least success. The evidence indicates that the differences are large and that they have persisted for a long time.
|Date of creation:||Jul 1982|
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- Martin Feldstein & Joel Slemrod & Shlomo Yitzhaki, 1980.
"The Effects of Taxation on the Selling of Corporate Stock and the Realization of Capital Gains,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 94(4), pages 777-791.
- Martin Feldstein & Joel Slemrod & Shlomo Yitzhaki, 1981. "The Effects of Taxation on the Selling of Corporate Stock and the Realization of Capital Gains," NBER Working Papers 0250, National Bureau of Economic Research, Inc.
- Feldstein, Martin & Yitzhaki, Shlomo, 1978. "The effects of the capital gains tax on the selling and switching of common stock," Journal of Public Economics, Elsevier, vol. 9(1), pages 17-36, February.
- Yitzhaki, Shlomo, 1979. "An Empirical Test of the Lock-in Effect of the Capital Gains Tax," The Review of Economics and Statistics, MIT Press, vol. 61(4), pages 626-629, November.
- Burton G. Malkiel & John G. Cragg, 1980. "Expectations and Valuation of Shares," NBER Working Papers 0471, National Bureau of Economic Research, Inc.
- Joel Slemrod, 1978. "The Lock-In Effect of the Capital Gains Tax: Some Time Series Evidence," NBER Working Papers 0257, National Bureau of Economic Research, Inc. Full references (including those not matched with items on IDEAS)