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Economic Growth with Constraints on Tax Revenues and Public Debt : Implications for Fiscal Policy and Cross-Country Differences
Aizenman, Joshua - 2007
This paper evaluates optimal public investment and fiscal policy for countries characterized by limited tax and debt capacities. We study a non stochastic CRS endogenous growth model where public expenditure is an input in the production process, in countries where distortions and limited...
Persistent link: https://www.econbiz.de/10012777949
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Non-Linear Effects of Taxation on Growth
Jaimovich, Nir - 2012
their growth performance. In our model, the effects of taxation on growth are highly non-linear. Low or moderate tax rates …
Persistent link: https://www.econbiz.de/10013099129
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Activist Fiscal Policy to Stabilize Economic Activity
Auerbach, Alan J. - 2010
We review the evidence on the practice and effects of discretionary fiscal policy, particularly in the context of recent efforts to stimulate the economy, reaching two main conclusions. First, policy interventions have increased in this decade, pre-dating the 2009 stimulus. Second, despite a...
Persistent link: https://www.econbiz.de/10013150639
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Revealing Failures in the History of School Finance
Lindert, Peter H. - 2009
This essay proposes a set of non-econometric tests using data on wage structure, school resource costs, public expenditures, taxes, and rates of return to explain anomalies in which richer political units deliver less education than poorer ones. Both the anomalies of education history, and its...
Persistent link: https://www.econbiz.de/10013155017
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Public Policy and Economic Growth : Developing Neoclassical Implications
King, Robert G.; Rebelo, Sergio T. - 2021
human capital formation. We show that national taxation can substantially affect long run growth rates. In particular, for … small open economies with substantial capital mobility, national taxation can readily lead to "development traps" (in which … influence of taxation on the rate of economic growth has important welfare implications: in basic endogenous growth models, the …
Persistent link: https://www.econbiz.de/10013216119
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Taxation and Economic Growth
Engen, Eric M.; Skinner, Jonathan S. - 2021
consider the evidence on taxation and growth for a large sample of countries. And finally, we use evidence from micro …
Persistent link: https://www.econbiz.de/10013225133
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Growth Effects of Flat-Rate Taxes
Stokey, Nancy L.; Rebelo, Sergio T. - 2021
Recent estimates of the potential growth effects of tax reform vary widely, ranging from zero (Lucas 1990) to eight percentage points (Jones, Manuelli, and Rossi 1993). Using an endogenous growth model, we assess which model features and parameter values are important for determining the...
Persistent link: https://www.econbiz.de/10013248552
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Young, Restless and Creative : Openness to Disruption and Creative Innovations
Acemoglu, Daron - 2015
This paper argues that openness to new, unconventional and disruptive ideas has a first-order impact on creative innovations-innovations that break new ground in terms of knowledge creation. After presenting a motivating model focusing on the choice between incremental and radical innovation,...
Persistent link: https://www.econbiz.de/10013034169
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A "Second Opinion" on the Economic Health of the American Middle Class
Burkhauser, Richard V. - 2011
Researchers considering levels and trends in the resources available to the middle class traditionally measure the pre-tax cash income of either tax units or households. In this paper, we demonstrate that this choice carries significant implications for assessing income trends. Focusing on tax...
Persistent link: https://www.econbiz.de/10013123312
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Optimal Time-Consistent Macroprudential Policy
Bianchi, Javier - 2013
Collateral constraints widely used in models of financial crises feature a pecuniary externality: Agents do not internalize how borrowing decisions taken in “good times” affect collateral prices during a crisis. We show that agents in a competitive equilibrium borrow more than a financial...
Persistent link: https://www.econbiz.de/10013071902