The Estimation of Accrued Capital Gains on Individuals' Corporate Stock Holdings
个人公司股票持有的应计资本利得估算
Stock market gains, their sources and economic effects have been the subjects of several recent studies, but the estimates of accrued gains generated in these studies often differ considerably, and do not meet some simple tests of consistency. In this article, an analytical framework is developed for computing capital gains consistently. The holdings of nonprofit institutions, which are generally not separated from the household sector because of lack of satisfactory data…