Working Paper: NBER ID: w1201
Authors: Arturo Estrella; Jeffrey C. Fuhrer
Abstract: This paper carefully outlines a method for the calculation of average marginal tax rates. The method is applied to Statistics of Income data for dividend and interest income earned by U.S. households from 1954 to 1980. To illustrate the effects these data can have inempirical work, the tax rates are used in comparing the sample moments of before and after-tax real yields on financial assets.
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Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| average marginal tax rates (H29) | financial asset yields (G12) |
| tax policy changes (H29) | average marginal tax rates (H29) |
| average marginal tax rates (H29) | optimal portfolio behavior (G11) |
| average marginal tax rates (H29) | asset demand functions (G19) |