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Tax Policy Implications In Endogenous Growth Models
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Book Synopsis Tax Policy Implications in Endogenous Growth Models by : Bin Xu
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 1994-03-01 with total page 40 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.
Book Synopsis Taxation and Endogenous Growth in Open Economies by : Mr.Gian Milesi-Ferretti
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.
Book Synopsis Fiscal Policy and Long-Run Growth by : Mr.Vito Tanzi
Download or read book Fiscal Policy and Long-Run Growth written by Mr.Vito Tanzi and published by International Monetary Fund. This book was released on 1996-10-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Endogenous Time Preference and Endogenous Growth by : Mr.Howell H. Zee
Download or read book Endogenous Time Preference and Endogenous Growth written by Mr.Howell H. Zee and published by International Monetary Fund. This book was released on 1994 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Design of Fiscal Reform Packages by : Andrew Hodge
Download or read book The Design of Fiscal Reform Packages written by Andrew Hodge and published by International Monetary Fund. This book was released on 2016-08-20 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the impact on growth, welfare, and government debt of fiscal reform packages in a theoretical model drawing together three key features of the endogenous growth literature: (i) investment in technology (in the form of human capital) offsets diminishing marginal productivity of private capital, allowing for perpetual growth in output per capita; (ii) changes in investment behavior because of cuts to distortionary tax rates impact long-run growth; and (iii) public capital has a role influencing total factor productivity and growth. A quantitative simulation using reasonable parameter values suggests that modest capital and/or labor income tax cuts and public investment increases have significant positive effects on consumer welfare but small effects on per capita income growth, where fiscal costs are offset by reductions in unproductive government spending. Capital income tax cuts and public investment increases continue to boost welfare when offset by consumption tax rises (rather than spending cuts), although the welfare benefits of modest labor income tax cuts are outweighed by the costs of a compensating consumption tax increase.
Book Synopsis Fiscal Policy in a Growth Framework by : Norman Gemmell
Download or read book Fiscal Policy in a Growth Framework written by Norman Gemmell and published by . This book was released on 2001 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Growth Effects of Income and Consumption Taxes by : Mr.Gian Milesi-Ferretti
Download or read book Growth Effects of Income and Consumption Taxes written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1995-07-01 with total page 38 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 some implications for the optimal intertemporal choice of tax instruments.
Book Synopsis Do Taxes Matter for Long-Run Growth? Harberger's Superneutrality Conjecture by : Mr.Gian Milesi-Ferretti
Download or read book Do Taxes Matter for Long-Run Growth? Harberger's Superneutrality Conjecture written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1995-08-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Tax and Technology Policy in an Endogenous Growth Model by : John Carol Williams
Download or read book Tax and Technology Policy in an Endogenous Growth Model written by John Carol Williams and published by . This book was released on 1994 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Growth Theory and Growth Policy by : Harald Hagemann
Download or read book Growth Theory and Growth Policy written by Harald Hagemann and published by Routledge. This book was released on 2003-03-06 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Public Policy and Economic Growth by : Robert Graham King
Download or read book Public Policy and Economic Growth written by Robert Graham King and published by . This book was released on 1990 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Government Spending and Taxation in Endogenous Growth Models by : Giancarlo Corsetti
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:
Book Synopsis The Forces of Economic Growth by : Alfred Greiner
Download or read book The Forces of Economic Growth written by Alfred Greiner and published by Princeton University Press. This book was released on 2016-06-28 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: In economics, the emergence of New Growth Theory in recent decades has directed attention to an old and important problem: what are the forces of economic growth and how can public policy enhance them? This book examines major forces of growth--including spillover effects and externalities, education and formation of human capital, knowledge creation through deliberate research efforts, and public infrastructure investment. Unique in emphasizing the importance of different forces for particular stages of development, it offers wide-ranging policy implications in the process. The authors critically examine recently developed endogenous growth models, study the dynamic implications of modified models, and test the models empirically with modern time series methods that avoid the perils of heterogeneity in cross-country studies. Their empirical analyses, undertaken with newly constructed time series data for the United States and some core countries of the Euro zone, show that models containing scale effects, such as the R&D model and the human capital model, are compatible with time series evidence only after considerable modifications and nonlinearities are introduced. They also explore the relationship between growth and inequality, with particular focus on technological change and income disparity. The Forces of Economic Growth represents a comprehensive and up-to-date empirical time series perspective on the New Growth Theory.
Book Synopsis Fiscal Policy and Economic Growth by : Alfred Greiner
Download or read book Fiscal Policy and Economic Growth written by Alfred Greiner and published by . This book was released on 1996 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work analyzes the impact of fiscal policy on the growth rate of market economies. Two frameworks are considered: in the first, human capital is seen as a by-product of gross investment; in the second, government is seen to influence growth by investing in public capital.
Book Synopsis Economic Growth and Environmental Policy by : Frank Hettich
Download or read book Economic Growth and Environmental Policy written by Frank Hettich and published by Edward Elgar Publishing. This book was released on 2000 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on the effects of environmental policy in closed and open economies in the short, medium and long term, this book uses dynamic modelling to study the interactions between economic growth, environmental policy and tax reform.
Book Synopsis Government Spending, Taxes, and Economic Growth by : Mr.Paul Cashin
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 with total page 42 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.
