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Taxes and life cycle capital gains realizations

  • This paper analyzes heterogeneity in capital gains tax elasticities across individuals. Using panel data of over 260,000 individuals, I find that the sensitivity of capital gains to taxes is decreasing over the individual life cycle. Younger individuals respond more strongly to changes in capital gains taxes than older individuals. An increase in age of 18 years decreases the lock-in effect of capital gains taxes by approximately 10%.

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Metadaten
Author:Martin Jacob
URN:urn:nbn:de:hbz:992-opus4-6678
DOI:https://doi.org/10.2139/ssrn.2185291
Series (Serial Number):FAccT Center Working Paper Series (09/2012)
Publisher:WHU - Otto Beisheim School of Management
Place of publication:Vallendar
Document Type:Working Paper
Language:English
Date of Publication (online):2018/06/12
Date of first Publication:2012/12/06
Release Date:2018/06/12
Tag:Einkommensteuer; Kapitalertragsteuer; Lebenszyklus; Sperreffekt
Capital gains tax; Income tax; Life cycle; Lock-in effect
Edition:March 18, 2013
Page Number:9
Note:
In: Applied Economics Letters, Vol. 20(2013), 1130-1134
Institutes:WHU Centers / WHU Financial Accounting & Tax Center (FAccT Center)
JEL-Classification:D Microeconomics / D1 Household Behavior and Family Economics / D14 Personal Finance
D Microeconomics / D9 Intertemporal Choice and Growth / D91 Intertemporal Consumer Choice; Life Cycle Models and Saving
H Public Economics / H2 Taxation, Subsidies, and Revenue / H24 Personal Income and Other Nonbusiness Taxes and Subsidies
Licence (German):Copyright for this publication