This paper reviews the main issues that needs to be addressed in the taxation of capital gains. The main focus of the paper is on the tax treatment of capital gains in the United States. The impact of inflation on asset values and the taxation of gains have led to calls for an inflation-adjusted...

It is well known that the preferential tax treatment of housing induces an inefficient allocation of saving and investment. This paper analyzes, in a portfolio framework, how eliminating the deductibility of mortgage interest payments for federal income tax purposes might affect investment in...

This paper contributes to a growing literature on politics and corporate governance by providing an empirical analysis of the impact of political factors on dividend payouts. The focus is on the determinants of dividend policy in U.K. public companies between 1949 and 2002. We augment Lintner's...