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| Author: | Yamazaki, F. Idee, T. |
| Title: | An estimation of the lock- in effect of capital gains taxation |
| Journal: | Journal of the Japanese and International Economies
1997 : MAR, VOL. 11:1, p. 82-104 |
| Index terms: | JAPAN INTERNAL CONSULTANTS TAXATION |
| Language: | eng |
| Abstract: | This paper presents an econometric model to examine whether capital gains taxation has a "lock-in" effect on land use. The authors estimate the demand functions for agricultural land and housing land in the Urbanization Promotion Area of Japan under rational expectations using panel data on 46 prefectures. The results show regional differences in lock-in effects. Although the capital gains tax on land has a significant lock-in effect on the supply of housing land in rural prefectures, the authors cannot find a lock-in effect in urban prefectures. |
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