Dynamic Fiscal Policy with Endogenous Human Capital
Title | Dynamic Fiscal Policy with Endogenous Human Capital PDF eBook |
Author | Wayne Robert Hickenbottom |
Publisher | |
Pages | 340 |
Release | 1992 |
Genre | |
ISBN |
Dynamic fiscal policy with endogenous human capital
Title | Dynamic fiscal policy with endogenous human capital PDF eBook |
Author | Wayne R. Hickenbottom |
Publisher | |
Pages | 160 |
Release | 1994 |
Genre | |
ISBN |
Fiscal Policy in an Endogenous Growth Model with Human Capital Accumulation
Title | Fiscal Policy in an Endogenous Growth Model with Human Capital Accumulation PDF eBook |
Author | Salvador Ortigueira |
Publisher | |
Pages | 44 |
Release | 1996 |
Genre | Economic development |
ISBN |
The Dynamic Effects of Taxes and Government Spending in a Calibrated Canadian Endogenous Growth Model
Title | The Dynamic Effects of Taxes and Government Spending in a Calibrated Canadian Endogenous Growth Model PDF eBook |
Author | Jing Xu |
Publisher | |
Pages | 22 |
Release | 1997 |
Genre | Government spending policy |
ISBN |
Tax Policy Implications in Endogenous Growth Models
Title | Tax Policy Implications in Endogenous Growth Models PDF eBook |
Author | Bin Xu |
Publisher | International Monetary Fund |
Pages | 46 |
Release | 1994-03 |
Genre | Business & Economics |
ISBN |
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.
The Design of Fiscal Reform Packages
Title | The Design of Fiscal Reform Packages PDF eBook |
Author | Andrew Hodge |
Publisher | International Monetary Fund |
Pages | 50 |
Release | 2016-08-20 |
Genre | Business & Economics |
ISBN | 1475529295 |
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.
Taxation and Endogenous Growth in Open Economies
Title | Taxation and Endogenous Growth in Open Economies PDF eBook |
Author | Nouriel Roubini |
Publisher | |
Pages | 48 |
Release | 1994 |
Genre | Capital levy |
ISBN |
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.