equilibrium approach that considers both demand and supply responses. We demonstrate that the equilibrium impact of capital gains ….e., capital gains taxes decrease supply). Depending on time periods and stock characteristics, either effect may dominate. Using …This paper examines the impact on asset prices from a reduction in the long-term capital gains tax rate using an …

We present a new framework to identify demand and supply elasticities of agricultural commodities using yield shocks … using current-period shocks that give rise to exogenous shifts in supply. Supply is identified using past shocks, which … extremely inelastic, price response is muted by a significant supply response that is obscured if futures prices are not …

This paper revisits capital-skill complementarity and inequality, as in Krusell, Ohanian, Rios-Rull and Violante (KORV …. We find strong evidence for continued capital-skill complementarity in the most recent data, and that the model continues …

first round of venture capital retain 30% more equity in their firm and are more likely to control their board of directors …. Late-stage startups are raising larger amounts of capital in the private markets from a growing pool of traditional and new … do go public, they are older and have raised more private capital. To understand these facts, we provide a systematic …

deter a number of firms that do have a demand for equity capital from cross-listing in the U.S …