We examine the role of political ideology in portfolio formation by studying a unique set of investors whose ideology can be precisely captured by a well-defined, continuous measure and whose personal asset allocation decisions are mandatorily disclosed - namely, the members of the U.S....

"Standard" environmental economics considers emissions trading to be the most effective and efficient policy instrument to meet the emission target. However, a popular view is that tradeable permits should be part of a policy portfolio, including other instruments, to reach this goal. Support...

This paper exploits the tax rate variation generated by the Economic Growth and Tax Reconciliation Act of 2001 (which reduced ordinary income tax rates) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (which reduced capital gains and dividend tax rates) to estimate the effect of...

A country's net flow of capital consists of simultaneously occurring imports and exports. Because a tax on the income from capital imports affects the quantity of capital exports and vice versa, tax policies toward inbound and outbound capital should be jointly formulated in order to avoid...

Limited partnerships are attractive investment vehicles for investors because, as limited partners, investors cannot lose more than their invested capital despite the leverage of the partnership's portfolio. Consistent with this, the availability of tax losses to a limited partner is also more...