Tax Policy Implications In Endogenous Growth Models
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| Author | : Bin Xu |
| Publisher | : International Monetary Fund |
| Total Pages | : 40 |
| Release | : 1994-03-01 |
| Genre | : Business & Economics |
| ISBN | : 1451977557 |
Download Tax Policy Implications in Endogenous Growth Models Book in PDF, Epub and Kindle
This paper surveys the tax policy implications in various endogenous growth models. The focus is on the long-run growth effects of income, consumption, and investment taxation in models whose engine of growth is the accumulation of human capital, technological innovation, and/or public infrastructure. The results depend on model specifications. This paper also reviews quantitative results from cross-country regressions and simulations, and indicates some statistical and methodological problems to which they are subject. Tax policy implications in endogenous growth models both with tax policy endogenously determined by a political process and with international capital mobility are also discussed.
| Author | : Mr.Gian Milesi-Ferretti |
| Publisher | : International Monetary Fund |
| Total Pages | : 37 |
| Release | : 1994-07-01 |
| Genre | : Business & Economics |
| ISBN | : 145184994X |
Download Taxation and Endogenous Growth in Open Economies Book in PDF, Epub and Kindle
This paper examines the effects of taxation of human capital, physical capital and foreign assets in a multi-sector model of endogenous growth. It is shown that in general the growth rate is reduced by taxes on capital and labor (human capital) income. When the government faces no borrowing constraints and is able to commit to a given set of present and future taxes, it is shown that the optimal tax plan involves high taxation of both capital and labor in the short run. This allows the government to accumulate sufficient assets to finance spending without any recourse to distortionary taxation in the long run. When restrictions to government borrowing and lending are imposed, the model implies that human and physical capital should be taxed similarly.
| Author | : Mr.Vito Tanzi |
| Publisher | : International Monetary Fund |
| Total Pages | : 36 |
| Release | : 1996-10-01 |
| Genre | : Business & Economics |
| ISBN | : 1451854129 |
Download Fiscal Policy and Long-Run Growth Book in PDF, Epub and Kindle
This paper discusses in a systematic and comprehensive way the existing literature on the relationship between the growth of countries’ economies and various public finance instruments, such as tax policy, expenditure policy, and overall budgetary policy, from the perspectives of allocative efficiency, macroeconomic stability, and income distribution. It reviews both the conceptual linkages between each of the instruments and growth and the empirical evidence on such relationships. It broadly concludes that fiscal policy could play a fundamental role in affecting the long-run growth performance of countries.
| Author | : Mr.Howell H. Zee |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 1994 |
| Genre | : Business & Economics |
| ISBN | : |
Download Endogenous Time Preference and Endogenous Growth Book in PDF, Epub and Kindle
The present paper develops a one-sector aggregate endogenous growth model with intertemporal preference dependence. The resultant model possesses the fundamental property of growth convergence, in the sense that countries with identical parameters regarding technology, preference, and government policy will converge to a steady state with the same (positive) growth rate. A notable tax policy implication of the model is that, even in the absence of externalities, the growth effects of an income tax are shown to be a priori ambiguous and dependent on the relative magnitudes of the tax rate and the tax elasticity of the savings rate.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 257 |
| Release | : 2015-04-20 |
| Genre | : Business & Economics |
| ISBN | : 1498344658 |
Download Fiscal Policy and Long-Term Growth Book in PDF, Epub and Kindle
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
| Author | : Mr.Gian Milesi-Ferretti |
| Publisher | : International Monetary Fund |
| Total Pages | : 38 |
| Release | : 1995-07-01 |
| Genre | : Business & Economics |
| ISBN | : 1451848234 |
Download Growth Effects of Income and Consumption Taxes Book in PDF, Epub and Kindle
The effects of income and consumption taxation are examined in the context of models in which the growth process is driven by the accumulation of human and physical capital. The different channels through which these taxes affect economic growth are discussed, and it is shown that in general the taxation of factor incomes (human and physical capital) is growth-reducing. The effects of consumption taxation on growth depend crucially on the elasticity of labor supply, and therefore on the specification of the leisure activity. The paper also derives some implications for the optimal intertemporal choice of tax instruments.
| Author | : Mr.Gian Milesi-Ferretti |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 1995-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451955790 |
Download Do Taxes Matter for Long-Run Growth? Harberger's Superneutrality Conjecture Book in PDF, Epub and Kindle
Harberger’s superneutrality conjecture contends that, although in theory the mix of direct and indirect taxes affects investment and growth, in practice growth effects of taxation are negligible. This paper provides evidence in support of this view by testing the predictions of endogenous growth models driven by human capital accumulation. The theoretical analysis highlights implications of different taxes for growth and investment in these models. The empirical work is based on cross-country regressions and numerical simulations, using a new methodology for estimating aggregate effective tax rates. Results show significant investment effects from income and consumption taxes that are consistent with small growth effects. The results are robust to the introduction of other growth determinants.
| Author | : John Carol Williams |
| Publisher | : |
| Total Pages | : 348 |
| Release | : 1994 |
| Genre | : Economic development |
| ISBN | : |
Download Tax and Technology Policy in an Endogenous Growth Model Book in PDF, Epub and Kindle
| Author | : Harald Hagemann |
| Publisher | : Routledge |
| Total Pages | : 347 |
| Release | : 2003-03-06 |
| Genre | : Business & Economics |
| ISBN | : 1134510896 |
Download Growth Theory and Growth Policy Book in PDF, Epub and Kindle
This collection examines the phenomenon of economic growth with admirable economic vigour and includes contributions from leading academic figures. Theoretical approaches, underpinned by original empirical work, will make this a book welcomed by students and academics of macroeconomics and growth theory.
| Author | : Robert Graham King |
| Publisher | : |
| Total Pages | : 35 |
| Release | : 1990 |
| Genre | : Economic development |
| ISBN | : |
Download Public Policy and Economic Growth Book in PDF, Epub and Kindle
