«Using administrative records of property sales, we find robust - TopicsExpress



          

«Using administrative records of property sales, we find robust evidence of substantial bunching and show that the incidence of this tax for transactions local to the discontinuity falls on sellers, may exceed 100% of the value of the tax, and is not explained by tax evasion (although supply-side quality adjustments may play a role). The distribution is also distorted above the notch and the volume of missing transactions exceeds those bunching. Interpreting our results in the context of an equilibrium bargaining model, we nd that the market unravels in the neighborhood of the notch: its presence provides strong incentive for buyers and sellers near the threshold not to transact.» columbia.edu/~wk2110/bin/mansion_tax.pdf
Posted on: Thu, 06 Jun 2013 17:12:05 +0000

Trending Topics



Recently Viewed Topics




© 2015