This study updates previous research estimating the persistent effect of tax changes on capital gains realizations by using a large panel of tax returns from 1999 to 2008. Similar to earlier studies in the literature, we use the type II Tobit model to address the sample selection problem and the...

Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and, hence, miss the important synergy among the three measures explicit in the life-cycle budget constraint. Using Panel Study of Income Dynamics data from 1999 through 2013, we...

Recent studies of economic inequality almost always separately examine income, consumption, and wealth inequality and, hence, miss the important synergy among the three measures explicit in the life-cycle budget constraint. Using Panel Study of Income Dynamics data from 1999 through 2013, we...