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Author : Giancarlo Corsetti
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (318 download)
Download or read book Optimal Government Spending and Taxation in Endogenous Growth Models written by Giancarlo Corsetti and published by . This book was released on 1996 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Judith A. Chevalier
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (361 download)
Download or read book Fundamental Determinants of National Equity Market Returns written by Judith A. Chevalier and published by . This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Giancarlo Corsetti
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book Optimal Government Spending and Taxation in Endgenous Growth Models written by Giancarlo Corsetti and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes optimal spending, tax and financial policies in models of endogenous growth where public spending is productive. We extend previous work in four directions. First, we analyze optimal policies when the government is allowed to borrow and lend, rather than being restricted to run a balanced budget in every period. Second, we develop a model with a separate human capital accumulation sector. Therefore, the properties of optimal policies depend on whether government spending affects the productivity of the final goods sector or the human capital accumulation sector. Third, we consider the policy implications of alternative assumptions about which factor of production benefits from the external effects of productive public goods. Fourth, we study the implications of restrictions on the menu of tax instruments available to the policy maker. We contrast optimal tax rates on human and physical capital under different assumptions on technology and distribution. We analyze the welfare properties of public debt and assets.
Author : Mr.Paul Cashin
Publisher : International Monetary Fund
ISBN 13 : 1451951477
Total Pages : 36 pages
Book Rating : 4.4/5 (519 download)
Download or read book Government Spending, Taxes, and Economic Growth written by Mr.Paul Cashin and published by International Monetary Fund. This book was released on 1994-08-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Giancarlo Corsetti
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Optimal Government Spending and Taxation in Endogenous Growth Models : European Summer Symposium in Macroeconomics, 28 May - 2 June 1996, Roda de Bará, Tarragona written by Giancarlo Corsetti and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Gian Milesi-Ferretti
Publisher : International Monetary Fund
ISBN 13 : 145184994X
Total Pages : 37 pages
Book Rating : 4.4/5 (518 download)
Download or read book Taxation and Endogenous Growth in Open Economies written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1994-07-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Nicholas Bull
Publisher :
ISBN 13 :
Total Pages : 290 pages
Book Rating : 4.:/5 (319 download)
Download or read book Optimal Taxation in an Endogenous Growth Model with Human Capital written by Nicholas Bull and published by . This book was released on 1992 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert J. Barro
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)
Download or read book Government Spending in a Simple Model of Endogenous Growth written by Robert J. Barro and published by . This book was released on 1988 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: I extend existing models of endogenous economic growth to incorporate a government sector. Production involves private capital (broadly defined) and public services. There is constant returns to scale in the two factors, but diminishing returns to each separately. Public services are financed by a flat- rate income tax. The economy's growth rate and saving rate initially rise with the ratio of productive government expenditures to CNP, g/y, but each rate eventually reaches a peak and subsequently declines. If the production function is Cobb-Douglas with an exponent o for public services, then the value g/y = a maximizes the growth rate, and also maximizes the utility attained by the representative consumer. The distortion from the income tax implies that the decentralized equilibrium is not Pareto optimal; in particular, the growth and saving rates are too low from a social perspective. In a command optimum, growth and saving rates are higher, but g/y = a turns out still to be the best choice for the size of government. The command optimum can be sustained by picking the expenditure ratio, g/y = a, and then financing this spending by lump sum taxes. If the share of productive spending, g/y, were chosen randomly, then the model would predict a non-monotonic relation between g/y and the economy's long- term growth and saving rates. However, for optimizing governments, the model predicts an inverse association between g/y and the rates of growth and saving.
Author : Giancarlo Corsetti
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (848 download)
Download or read book Optimal Government Spendig and Taxation in Endogenous Growth Models written by Giancarlo Corsetti and published by . This book was released on 1996 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bin Xu
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)
Download or read book Tax Policy Implications in Endogenous Growth Models written by Bin Xu and published by International Monetary Fund. This book was released on 1994-03 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : David Alan Aschauer
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (397 download)
Download or read book Optimal Financing by Money and Taxes of Productive and Unproductive Government Spending written by David Alan Aschauer and published by . This book was released on 1998 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Nicholas Kaldor
Publisher : Routledge
ISBN 13 : 1317833481
Total Pages : 255 pages
Book Rating : 4.3/5 (178 download)
Download or read book Expenditure Tax written by Nicholas Kaldor and published by Routledge. This book was released on 2014-04-04 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This is one of those rare technical books which has an importance outside its own field' The Daily Telegraph. 'One of the most stimulating post-war books on public finance' The Guardian. Part 1 examines the issue of Expenditure Tax in principle and includes chapters on the following: * Income, Expenditure and Taxable Capacity * The Concept of Income in Economic Theory * Taxation and Savings * Taxation and risk-bearing * Taxation and the Incentive to Work * Company Taxation * Taxation and Economic Progress Part 2 examines the issue of Expenditure Tax in practice, asking whether personal expenditure tax is practicable and putting forward a proposal for Surtax Reform.
Author : Hyun Park
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book Expenditure Composition and Distortionary Tax for Equitable Economic Growth written by Hyun Park and published by International Monetary Fund. This book was released on 2006-06 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper continues the study of optimal fiscal policy in a growing economy by exploring a case in which the government simultaneously provides three main categories of expenditures with distortionary tax finance: public production services, public consumption services, and state-contingent redistributive transfers. The paper shows that in a general equilibrium model with given exogenous fiscal policy, a nonlinear relation exists between the suboptimal longrun growth rate in a competitive economy and distortionary tax rates. When fiscal policy is endogenously chosen at a social optimum, the relation between the rate of growth and tax rates is always negative. These two conclusions suggest that the interaction between fiscal policy and growth may be complicated enough that it cannot be captured in a simple linear model using an aggregate measure of fiscal policy. The sources of nonlinearity include expectation and coordination of fiscal policy, impluse response of government policies, and the presence of positive externality due to government spending.
Author : Wayne Robert Hickenbottom
Publisher :
ISBN 13 :
Total Pages : 340 pages
Book Rating : 4.:/5 (319 download)
Download or read book Dynamic Fiscal Policy with Endogenous Human Capital written by Wayne Robert Hickenbottom and published by . This book was released on 1992 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marco Espinosa-Vega
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.E/5 ( download)
Download or read book Government Financing in an Endogenous Growth Model with Financial Market Restrictions written by Marco Espinosa-Vega and published by . This book was released on 2000 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philip Booth
Publisher : London Publishing Partnership
ISBN 13 : 025536735X
Total Pages : 256 pages
Book Rating : 4.2/5 (553 download)
Download or read book Taxation, Government Spending and Economic Growth written by Philip Booth and published by London Publishing Partnership. This book was released on 2016-11-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amidst the debates about ‘austerity’ a number of vital debates in public finance have been sidelined. Because the reductions in government spending – small though they have been so far- have been designed to reduce the government’s borrowing requirement, there has been little discussion of whether the size of the state should be reduced in order to facilitate long-run reductions in the burden of taxation. This book traces the history of the growth of the size of the state over the last 100 years whilst also making international comparisons. There is a particular focus on recent and projected future developments which shows that, though the total level of government spending has not decreased significantly in recent years, there has been a big redirection of spending from some areas to others. The authors then examine the evidence on the relationship between taxation and economic growth. As well as reviewing recent literature, they also undertake new modelling that higher taxes are detrimental for growth. In the final part of the book, the whole UK tax system is reconsidered in a proper economic framework. The UK has one of the world’s most complex tax systems and its incoherence has increased over the last five years. Sweeping reforms are proposed to the system which wold involve abolishing around 20 taxes and the development of a simple, predictable tax system based on principles that should gain wide acceptance.
Author : Gian Maria Milesi-Ferretti
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)
Download or read book Growth Effects of Income and Consumption Taxes written by Gian Maria Milesi-Ferretti and published by . This book was released on 1995 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 implications for the optimal intertemporal choice of tax instruments.
