000			01752nab a2200277 c 4500
003			ES-MaIEF
005			20190712181955.0
007			ta
008			190712s2019 us ||||| |||| 00| 0|eng d
040			_aES-MaIEF _bspa _cES-MaIEF
041			_aeng
100	1		_951323 _aDowd, Timothy Jon
245		4	_aThe bunching of capital gains realizations _c Tim Dowd and Robert McClelland
260			_c2019
500			_aResumen.
504			_aBibliografía.
520			_aWe use a unique data set of capital gains transactions to investigate the behavior of taxpayers with respect to the preferential tax rate for long-term capital gains. Our data allow us to examine the shifting of gains across time periods but eliminate the effect of the large pool of accrued gains that mechanically enlarge previous estimates. We adapt the bunching methodology developed by Kleven and Wasseem for rate changes over incomes to the drop in the capital gains tax when an asset has been held for more than one year. We find strong evidence that taxpayers respond to the preferential rate by reducing the realizations of gains in the weeks leading up to the point when the preferential rate applies. However, the magnitude of the transitory elasticity is small relative to prior estimates: we estimate a short-run gains elasticity of –0.47. We also estimate a quasi-permanent gains elasticity of –0.79.
650		4	_943197 _aPLUSVALIAS
650		4	_947460 _aIMPUESTOS
650		4	_943299 _aELASTICIDAD IMPOSITIVA
650		4	_947531 _aINVERSIONES
650			_aESTADOS UNIDOS _942888
700			_93017 _aMacClelland, Robert
773	0		_9160685 _oOP 233/2019/2 _tNational Tax Journal _w(IEF)86491 _x 0028-0283 _g v. 72, n. 2, June 2019, p. 323-358
942			_cART
999			_c140889 _d140889