Analysis reveals capital gains tax regimes influence portfolio allocations, suggesting a link to the lock-in effect.
Assesses the impact of five different capital gains tax regimes on lock-in effect and new risky investment decisions. Features of the tax regimes investigated; Comparison of the portfolio allocations of the subjects; Relationship between unfavorable tax consequences of selling assets and lock-in effect.
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Janet A. Meade (1990) studied this question.
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