00000nam 2200000za 4500 9.862980 CaOODSP 20221107161151 cr ||||||||||| 181010s1987 onc o f000 0 eng d CaOODSP eng eng fre n-cn--- EC22-3/1987-321E-PDF Gagnon, Jean-Marie. On calculating marginal tax rates from stock-market prices [electronic resource] / by Jean-Marie Gagnon, Jean-Marc Suret, and Denis Morissette. Ottawa : Economic Council of Canada, 1987. 60 p. Discussion paper ; no. 321 "March 1987." Digitized edition from print [produced by the Publishing and Depository Services Directorate]. Includes bibliographic references. "Models designed to infer marginal personal tax rates from price changes on ex-dividend days have been popular in the United States. We examine two of them, one by Elton and Gruber (1970) and the other one by Auerbach (198l), apply them to Canadian data, and examine the disaggregated results they yield. Performance is judged according to three criteria: plausibility of estimated tax rates, stability of tax clientele over time, and differences in rates attributed to stockholders in different tax brackets. Both models fail all three tests. We explain why they will probably never yield robust estimates, especially under tax laws such as the Canadian ones"--Summary. Includes summary in French. gccst Taxes gccst Stock markets Suret, Jean-Marc. Morissette, Denis. Economic Council of Canada. Discussion paper (Economic Council of Canada) no. 321 (CaOODSP)9.855540 PDF 4.97 MB https://publications.gc.ca/collections/collection_2018/ecc/EC22-3-1987-321-eng.pdf