Capital Income Taxation And Long Run Growth PDF Download
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| Author | : Assaf Razin |
| Publisher | : |
| Total Pages | : 38 |
| Release | : 1995 |
| Genre | : Capital levy |
| ISBN | : |
Download Capital Income Taxation and Long Run Growth Book in PDF, ePub and Kindle
We study the effects of capital income taxation on long run growth in an endogenous growth framework with two distinguishing features: endogenous population and international capital mobility. Endogenizing population growth introduces a new channel for taxes to affect economic growth and enables us to discriminate the effects of taxes on total versus per capita income growth. Allowing for capital mobility in the open economy, we show how the effects of taxes on population growth and income growth across countries will vary in specific ways, depending on the international income tax regimes and the relative preference bias of people towards the 'quantity' and 'quality' of children. The numerical results based on our calibrated model for the G-7 also indicate that, although the effects of liberalizing capital flows on long run growth may not be very sizable, the growth effects of changes in capital income tax rates can be tremendously magnified by cross-border capital flows and cross-border spillovers of policy effects.
| Author | : Assaf Razin |
| Publisher | : |
| Total Pages | : 76 |
| Release | : 1994 |
| Genre | : |
| ISBN | : |
Download Capital Income Taxation and Long Run Growth Under Endogenous Population and Capital Mobility Book in PDF, ePub and Kindle
| Author | : Mr.Gian Milesi-Ferretti |
| Publisher | : International Monetary Fund |
| Total Pages | : 37 |
| Release | : 1994-07-01 |
| Genre | : Business & Economics |
| ISBN | : 145184994X |
Download Taxation and Endogenous Growth in Open Economies Book in PDF, ePub and Kindle
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 |
| Total Pages | : 38 |
| Release | : 1995-07-01 |
| Genre | : Business & Economics |
| ISBN | : 1451848234 |
Download Growth Effects of Income and Consumption Taxes Book in PDF, ePub and Kindle
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 | : Bin Xu |
| Publisher | : International Monetary Fund |
| Total Pages | : 40 |
| Release | : 1994-03-01 |
| Genre | : Business & Economics |
| ISBN | : 1451977557 |
Download Tax Policy Implications in Endogenous Growth Models Book in PDF, ePub and Kindle
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 | : Mr.Gian Milesi-Ferretti |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 1995-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451955790 |
Download Do Taxes Matter for Long-Run Growth? Harberger's Superneutrality Conjecture Book in PDF, ePub and Kindle
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.
| Author | : Martin S. Feldstein |
| Publisher | : Harvard University Press |
| Total Pages | : 506 |
| Release | : 1983 |
| Genre | : Business & Economics |
| ISBN | : 9780674094826 |
Download Capital Taxation Book in PDF, ePub and Kindle
Feldstein shows how systems of taxation influence the rate and nature of capital formation--key to the development of any economy. His identification of important economic and policy questions, adroit use of modeling and new data, and careful attention to dynamics make this book a powerful addition to the literature.
| Author | : Geremia Palomba |
| Publisher | : |
| Total Pages | : 34 |
| Release | : 2004 |
| Genre | : Capital gain tax |
| ISBN | : |
Download Capital Income Taxation and Economic Growth in Open Economies Book in PDF, ePub and Kindle
| Author | : Arnold C. Harberger |
| Publisher | : |
| Total Pages | : 372 |
| Release | : 1969 |
| Genre | : Business & Economics |
| ISBN | : |
Download The Taxation of Income from Capital Book in PDF, ePub and Kindle
Compilation of papers on problems of income taxation and the effects thereof on capital gains in the USA - covers economic implications, legal aspects of the tax system, fiscal policy, long term pattern of financing of enterprises, the effects of income taxation on labour force supply, etc., and includes statistical tables and information on personal income and investment. References.
| Author | : Assaf Razin |
| Publisher | : |
| Total Pages | : 42 |
| Release | : 1992 |
| Genre | : Capital movements |
| ISBN | : |
Download Convergence in Growth Rates Book in PDF, ePub and Kindle
We consider the role of capital mobility and international taxation. In explaining the observed diversity in long-term growth rates. Our major finding is that, under capital mobility, international differences in taxes will not matter for total growth differentials. Policy differences have a role to play in per capita growth differentials, however, when they lead to a divergence in the after-tax rates of return on capital across countries, as when the residence principle is adopted universally. When this is the case, how tax differences affect the growth rates of population and human capital will depend on the relative preference of the individual household towards these two engines of growth. Optimal tax policies are found to be growth-equalizing with and without policy coordination.
