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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...
Persistent link: https://www.econbiz.de/10014398097
Persistent link: https://www.econbiz.de/10003816362
This paper presents an infinite horizon model of consumption and taxation " smoothing" that implies a simple relation between current accounts, budget deficits, investment rates and transitory output shocks. It is argued that such a model could explain the "Feldstein-Horioka puzzle" of the...
Persistent link: https://www.econbiz.de/10012476287
Persistent link: https://www.econbiz.de/10000774251
Persistent link: https://www.econbiz.de/10001282496
Persistent link: https://www.econbiz.de/10000792293
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...
Persistent link: https://www.econbiz.de/10012781662
This paper presents an infinite horizon model of consumption and taxation " smoothing" that implies a simple relation between current accounts, budget deficits, investment rates and transitory output shocks. It is argued that such a model could explain the "Feldstein-Horioka puzzle" of the...
Persistent link: https://www.econbiz.de/10013249373