profits.Balanced growth paths, transitional dynamics and welfare costs are computed. Our results indicate that the 2000 Income … Tax Act leads to higher per capita income and investment, but lower welfare.A sensitivity analysis shows the results are …

welfare and growth, by means of a computable general equilibrium model with R&D-driven endogenous technological change …, generates less R&D, capital formation, economic growth, and welfare, than do the other alternatives, reflecting that the …We explore how innovation incentives in a small, open economy should be designed in order to achieve the highest …

We analyse welfare effects of supporting general versus emission saving technological development when carbon emissions … R&D and emission saving R&D. Support to general R&D is the welfare superior, independent of the level of international … carbon price. However, the welfare gap between the two R&D policy alternatives is reduced if the carbon price increases. …

, automation capital, and population growth. In the empirical analysis, we find indications for cointegrating equations for the … step, we present a standard neoclassical growth model augmented by automation capital and capital adjustment costs that is …

change or globalization, but also by the dynamics of factor taxation, automation capital (robots), and population growth … shares and in automation capital. Second, we analyse and calibrate a neoclassical growth model extended to include factor …

on life expectancy. It also shows that, in such a case, greener preferences are growth- and welfare-improving even if the … that the influence of environment on optimal growth in the long-run may be explained by the detrimental effect of pollution …

GDP - but eventually diverge from output due to the growth of the welfare state. After government expenditures become … welfare sate, cut taxes, and stimulate output growth. We show that the policies chosen by politicians are Pareto suboptimal … in 1992. To examine the dynamics of the growth and subsequent reduction in government spending, we present a dynamic …

This paper investigates the relevance of government purchasing behavior for innovation-based economic growth. We … incentive for private innovation activities. In contrast to the standard Schumpeterian growth framework, we account for industry … construct a parsimonious Schumpeterian growth model in which demand from the public sphere can effectively alter the economy …

effects (lower GDP growth and lower income inequality); and welfare effects (lower dispersion of consumption across …This paper analyzes the effects of personal income tax progressivity on long-run economic growth, income inequality and … social welfare. The quantitative implications of income tax progressivity increments are illustrated for the US economy under …

In this paper, we quantitatively assess the welfare implications of alternative public education spending rules. To … only when the policy instrument is successful in smoothing the growth rate of human capital. …