The Incidence of Transaction Taxes: Evidence from a Stamp Duty Holiday

@inproceedings{Besley2014TheIO,
  title={The Incidence of Transaction Taxes: Evidence from a Stamp Duty Holiday},
  author={Timothy Besley and Neil Meads and Paolo Surico},
  year={2014}
}
This paper exploits the 2008-09 stamp duty holiday in the United Kingdom to estimate the incidence of a transaction tax on housing. The average reduction in the after-tax sale price is found to be around £900 against the backdrop of an average tax reduction of about £1500. While we estimate an increase in transactions of properties affected by the tax holiday around 8%, most of this effect appears to have reversed rapidly after the policy was withdrawn, suggesting mostly a short-term retiming… CONTINUE READING

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