Author: Richard B. FreemanPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Have Black Market Gains Post-1964 Been Permanent Or Transitory?
Author: Richard B. FreemanHave Black Labor Market Gains Post-1964 Been Permanent Or Transitory?
Author: Richard Barry FreemanPublisher:
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
Monthly Labor Review
Author: Publisher:
ISBN:
Category : Labor laws and legislation
Languages : en
Pages : 640
Book Description
Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
Special Report
Author: The Holding Period Distinction of the Capital Gains Tax
Author: Steven KaplanPublisher:
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.
Seventh Annual Report
Author: United States. National Commission for Employment PolicyPublisher:
ISBN:
Category : Occupational retraining
Languages : en
Pages : 256
Book Description
Annual Report
Author: United States. National Commission for Employment PolicyPublisher:
ISBN:
Category : Manpower policy
Languages : en
Pages : 256
Book Description
Inflation, Tax Rules and the Accumulation of Residential and Nonresidential Capital
Author: Martin S. FeldsteinPublisher:
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.
"Double Dipping"
Author: Gary BurtlessPublisher:
ISBN:
Category : Civil service
Languages : en
Pages : 46
Book Description
We consider the retirement behavior of civilian employees of the United States government. Unlike previous studies, this investigation is based upon a data set containing fairly complete and accurate information about the Social Security and employer-provided pensions for which employees are (or ultimately will be) eligible. These data permit us to specify the financial aspects of individual retirement decisions with a reasonable degree of precision. A large fraction of civil service pensioners is eligible to receive Social Security benefits because a part of their working careers was spent in Social-Security-covered employment. The prevalence of double pension coverage among government employees has raised serious equity questions about the treatment of civil servants by Social Security, and these questions have led to various suggestions for pension reform. Partly, the reform proposals have been put forward due to the perceived unfairness of "double dipping" which arises from the double pension coverage of government employees. Our analysis finds: (1) Both the amount of a Federal pension entitlement and the expected wait until the pension commences affect the timing of retirement from the Federal service. (2) The rate of anticipated wage growth significantly affects individual decisions to remain in Federal employment. (3) Workers who are eligible to ultimately receive Social Security in some cases show a different pattern of retirement than do workers not vested in Social Security. However, our analysis does not reveal any massive shift of Federal workers into Social-Security-covered employment in order to benefit from the "tilt" in the Social Security formula.
The Distribution and Determinants of Individual Wage Profile Slopes
Author: Arthur M. DiamondPublisher:
ISBN:
Category : Pay equity
Languages : en
Pages : 48
Book Description