Long-Run Growth and Welfare Effects of Tax Reform PDF Download

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Long-Run Growth and Welfare Effects of Tax Reform

Long-Run Growth and Welfare Effects of Tax Reform PDF Author: Wen-Ya Chang
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Languages : en
Pages : 0

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Book Description
This paper introduces an endogenously-determined fertility rate into a Romer-type endogenous growth model and, accordingly, investigates the effects on fertility, economic growth and social welfare of a revenue-neutral tax reform that involves switching from an income tax to a consumption tax. We show that, in a departure from the existing literature, tax reform could be harmful, rather than favourable, to both growth and welfare, due to an endogenous fertility rate. We also conduct a simple numerical analysis to investigate under what conditions the negative effect on growth and welfare occurs.