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Full-Text Articles in Social and Behavioral Sciences
Economic Prospects For 1986, Murray L. Weidenbaum
Economic Prospects For 1986, Murray L. Weidenbaum
Murray Weidenbaum Publications
The economic forecast for 1986 is expected to show a much more modest growth than that of 1984 and 1985, mostly due to increases in imports, causing a reduction in domestic production.
Notes On The Effect Of Capital Gains Taxation On Non-Austrian Assets, Dan Kovenock, Michael Rothschild
Notes On The Effect Of Capital Gains Taxation On Non-Austrian Assets, Dan Kovenock, Michael Rothschild
Economics Faculty Books and Book Chapters
This paper is an attempt to assess the effect of capital gains taxation on non-Austrian assets, such as claims to profits of continuing enterprises. As compared to taxation on an accrual basis, the capital gains tax discourages sales of appreciated assets. This is the "lock-in" effect. Because assets subject to capital gains taxation are generally held a long time, conventional estimates suggest that the effective rate of capital gains taxation is low. We contend that conventional estimates could seriously underestimate the effective rate of capital gains taxation because they ignore uncertainty. We construct a model which allows us to calculate …