Predicting Stock Price Responses to Tax Policy Changes

A model for estimating windfalls resulting from tax policy changes is developed and tested. The effect on fundamental equity value of the policy changes enacted with the Economic Recovery Tax Act (ERTA) of 1981 is simulated, and the results are used as predictions about stock price windfalls. The fu...

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Veröffentlicht in:	The American economic review 1988-12, Vol.78 (5), p.1118-1130
Hauptverfasser:	Downs, Thomas W., Tehranian, Hassan
Format:	Artikel
Sprache:	eng
Schlagworte:	Accelerated cost recovery system Capital depreciation Capital investments Capital stocks Depreciation Economic models Economic recovery Economic theory Equity ERTA 1981-US Financial investments Fiscal policy Governmental reform Income taxes Industrial market Investment tax credits Mathematical analysis Securities prices Stock prices Taxation
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