Charles Leung

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Capital Gains and Inflation Taxes in a Life-cycle Model

Staff Working Paper 1999-2 Charles Leung, Guang-Jia Zhang
Inflation distorts an economy through many channels. This paper highlights the interaction between inflation and capital gains tax and how they distort an economy through the financial market. Several observations motivate this research. First, capital formation or investment is an important channel for economic agents to smooth their consumption over their life cycles. Second, capital […]
Content Type(s): Staff Research, Staff Working Papers Topic(s): Inflation: costs and benefits JEL Code(s): E, E5, E6

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