Taxation and Endogenous Growth in Open Economies PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Taxation and Endogenous Growth in Open Economies PDF full book. Access full book title Taxation and Endogenous Growth in Open Economies by Mr.Gian Milesi-Ferretti. Download full books in PDF and EPUB format.
Author: Mr.Gian Milesi-Ferretti
Publisher: International Monetary Fund
ISBN: 145184994X
Category : Business & Economics
Languages : en
Pages : 37
Get Book
Book Description
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.Gian Milesi-Ferretti
Publisher: International Monetary Fund
ISBN: 145184994X
Category : Business & Economics
Languages : en
Pages : 37
Get Book
Book Description
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: Bin Xu
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 46
Get Book
Book Description
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: Nouriel Roubini
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book
Book Description
Author: Sergio Rebelo
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 58
Get Book
Book Description
Author: Mr.Paul Cashin
Publisher: International Monetary Fund
ISBN: 1451951477
Category : Business & Economics
Languages : en
Pages : 36
Get Book
Book Description
This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth-enhancing effects of investment in public capital and transfer payments are modeled, as is the growth-inhibiting influence of the levying of distortionary taxes which are used to fund such expenditure. The theoretical implications of the model are then tested with data from 23 developed countries between 1971 and 1988, and time series cross sectional results are obtained which support the proposed influence of the public finance variables on economic growth.
Author: Mr.Geremia Palomba
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451851540
Category : Business & Economics
Languages : en
Pages : 28
Get Book
Book Description
Do reductions in capital income taxes attract foreign capital and, at the same time, foster economic growth? This paper examines the effect of capital income taxation on the international allocation of capital and on economic growth in a two-country overlapping generations model with endogenous growth and internationally mobile capital. It shows that domestic capital taxes affect both the international allocation of capital and the rate of economic growth and that these two effects are not necessarily the same. A country can increase its share of the existing world capital by changing its taxes but, depending on the elasticity of saving to after-tax returns, this may reduce the rate of capital accumulation and economic growth.
Author: Mr.Gian Milesi-Ferretti
Publisher: International Monetary Fund
ISBN: 1451848234
Category : Business & Economics
Languages : en
Pages : 38
Get Book
Book Description
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: Frank Hettich
Publisher: Edward Elgar Publishing
ISBN: 9781781959992
Category : Political Science
Languages : en
Pages : 296
Get Book
Book Description
This book should interest all students and scholars of environmental economics and particularly those interested in the relationship between economic growth and environmental quality.
Author: Mr.Vito Tanzi
Publisher: International Monetary Fund
ISBN: 1451854129
Category : Business & Economics
Languages : en
Pages : 36
Get Book
Book Description
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: Alfred Greiner
Publisher: Princeton University Press
ISBN: 9780691119182
Category : Business & Economics
Languages : en
Pages : 222
Get Book
Book Description
Publisher Description
