摘要:

This paper examines the problem of the trade‐off between the possible minimum tax consequences of accelerated depreciation, the recapture of excess depreciation, and the choice of depreciation methods for maximizing investor wealth. The model is simulated for various ranges of the inputs to which the depreciation selection decision is sensitive. The results indicate that for high marginal tax rates, reasonably long holding periods, and reasonably high discount rates, the investor should select the accelerated methods after considering the minimum tax and recapture consequence

ISSN:1080-8620    

DOI:10.1111/1540-6229.00216

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

This study analyzes the growth rates of 64 municipalities around 4 nuclear power plants in the Northeastern United States, as reflected by changes in equalized total real property market values from 1960 to 1976. Annual growth rates were inversely related to distance from the plant, and were higher after the plants became operational. Growth rates for the host municipalities were greater than those for the regions around them. Although it was not possible to isolate the specific effects of nuclear power plants on growth rates, the empirical results suggest that at least until 1976 there were positive growth effects in the host communities.

ISSN:1080-8620    

DOI:10.1111/1540-6229.00217

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

This article formulates a measure of the cost of homeownership which accounts for (1) the tax subsidy to homeowning, (2) the element of expected inflation in mortgage interest rates and (3) speculation about appreciation in real house prices. Each component of the total cost of homeowning is estimated annually across the decade of the 1970s. Total real costs are found to have trended down during the period, primarily because of a decline in the real interest rate and increases both in the real tax subsidy and in expectations of real appreciation.

ISSN:1080-8620    

DOI:10.1111/1540-6229.00218

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

This study represents an extension of the literature that examines the factors affecting a household's decision to make an intrametropoli‐tan move by emphasizing the importance of neighborhood characteristics in addition to the traditional life‐cycle variables on the decision to move. Because of the dichotomous nature of the dependent variable and the collinearity among the independent variables, we employ both principal component and logit analysis. The primary data base is drawn from a sample of households moving into and out of two areas in St. Louis.The results indicate that many of the traditional life‐cycle variables are significant, although some behave differently than in the usual case because of the transitional nature of the neighborhoods we examine. The results also suggest that a household's perceptions regarding the quality of the neighborhood are also important determinants of mobility. Finally, when the maximum likelihood logit analysis results are compared with the principal component logit results, we find that the principal component logit technique performs better in almost all inst

ISSN:1080-8620    

DOI:10.1111/1540-6229.00219

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY

摘要:

This paper examines rates of return earned on GNMA securities over the period January 1971 through June 1978. We find that over this period the mean monthly return on GNMAs was greater than the mean return on long‐term government bonds and slightly greater than the mean return on high‐grade corporate bonds. However, in neither case was the difference statistically significant. Thus, based on this evidence, it is not possible to conclude that the cost of acquiring funds to finance single‐family housing purchases through the GNMA program exceeded the cost of acquiring funds by the U.S. treasury or financially‐strong corpo

ISSN:1080-8620    

DOI:10.1111/1540-6229.00220

出版商:Blackwell Publishing Ltd    

年代:1980

数据来源: WILEY