000			02106cam a22003737 4500
001			w17522
003			NBER
005			20211020110740.0
006			m o d
007			cr cnu||||||||
008			210910s2011 mau fo 000 0 eng d
100	1		_aRydqvist, Kristian. _919937
245	1	0	_aGovernment Policy and Ownership of Financial Assets / _cKristian Rydqvist, Joshua Spizman, Ilya A. Strebulaev.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2011.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w17522
500			_aOctober 2011.
520	3		_aSince World War II, direct stock ownership by households across the globe has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with measures of the tax benefits of holding stocks inside tax-deferred plans. This finding is important for policy considerations on effective taxation and for financial economics research on the long-term effects of taxation on corporate finance and asset prices.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aG10 - General _2Journal of Economic Literature class.
690		7	_aG20 - General _2Journal of Economic Literature class.
690		7	_aH22 - Incidence _2Journal of Economic Literature class.
690		7	_aH30 - General _2Journal of Economic Literature class.
700	1		_aSpizman, Joshua.
700	1		_aStrebulaev, Ilya A.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w17522.
856	4	0	_uhttps://www.nber.org/papers/w17522
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w17522
942			_2ddc _cW-PAPER
999			_c330600 _d289162