Have Black Labor Market Gains Post-1964 Been Permanent Or Transitory? PDF Download
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Author: Richard Barry Freeman Publisher: ISBN: Category : African Americans Languages : en Pages : 25
Book Description
One of the most important questions regarding black economic gains post-1964 is whether they are permanent or transitory. This study examines the relative economic progress of black cohorts and of individual black workers in longitudinal samples to evaluate the permanence of changes. It finds that the preponderance of evidence runs against the proposition that the post-1964 advances have bS2- transitory or illusory. Measured by earnings of workers and occupational attainment, blacks have continued to make significant progress in the 1970s. Measured by the increase in earnings of specific cohorts, black gains did not dissipate due to slow growth of earnings
Author: Richard Barry Freeman Publisher: ISBN: Category : African Americans Languages : en Pages : 25
Book Description
One of the most important questions regarding black economic gains post-1964 is whether they are permanent or transitory. This study examines the relative economic progress of black cohorts and of individual black workers in longitudinal samples to evaluate the permanence of changes. It finds that the preponderance of evidence runs against the proposition that the post-1964 advances have bS2- transitory or illusory. Measured by earnings of workers and occupational attainment, blacks have continued to make significant progress in the 1970s. Measured by the increase in earnings of specific cohorts, black gains did not dissipate due to slow growth of earnings
Author: Steven Kaplan Publisher: ISBN: Category : Capital gains tax Languages : en Pages : 46
Book Description
United States tax law distinguishes between short-term and long-term capital gains. By taxing long-term gains at a lower rate the law creates an incentive for investors to postpone the realization of short-term gains. This study examines the lock-in effect induced by the differential tax treatment of long- and short-term gains. Analysis of data on corporate stock transactions from 1973 suggests that the lock-in effect is large and, thus, causes investors to alter their investment portfolios. The existence of such an effect is inefficient and results in a reduction in capital market efficiency. The inefficiency might be justified if there were convincing reasons which supported the existence of the holding period distinction. It is commonly argued, for instance, that eliminating the distinction would encourage short-term speculation at the expense of long-term commitment to capital. It is also claimed that this would result in a loss of revenue to the government. This study relies on IRS data and simulations using the NBER-TAXSIM file to examine the validity of these arguments. The results of this study suggest that the holding period distinction is not very effective in deterring speculation and does not increase government revenues; in fact, it may decrease them.
Author: Martin S. Feldstein Publisher: ISBN: Category : Inflation Languages : en Pages : 44
Book Description
The present paper analyses the effect of the interaction between tax rules and inflation on the size and allocation of the capital stock with particular emphasis on the role of owner-occupied housing. The analysis is developed in the framework of an economy that is in equilibrium and in which a constant fraction of disposable income is saved. In this model, I show that, with current U.S. tax laws, an increase in the rate of inflation reduces the equilibrium amount of business capital employed in the economy and raises the amount of housing capital. The analysis also shows that a higher rate of inflation lowers the real net-of-tax rate of return to the provider of business capital. In a richer model than the current one, i.e., in a model in which the rate of personal saving was an increasing function of the net rate of return, a higher inflation rate would therefore lower the rate of saving. The present analysis also shows that permitting firms to depreciate investments more rapidly for tax purposes increases the accumulations of business capital but that, unless firms are permitted to expense all in- vestment immediately, an increase in in£ lat ion continues to depress the accumulation of business capital.
Author: Richard Barry Freeman
Author: Richard Barry Freeman
Author: Richard B. Freeman
Author: 
Author: 
Author: United States. National Commission for Employment Policy
Author: United States. National Commission for Employment Policy
Author: Steven Kaplan
Author: 
Author: Martin S. Feldstein
Author: Arthur M. Diamond