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In recent contributions, Weizsäcker (2014) and Summers (2014) maintain that mature economies accumulate too much capital. They suggest large and lasting public deficits as a remedy. This paper argues that overaccumulation cannot occur in an economy with land. It presents novel data of aggregate...
Persistent link: https://www.econbiz.de/10010352205
. The article consists of three parts. The first is an introduction to these taxes and taxation. The second is the analysis … in which the objective of the taxation is discussed. This part represents the trends in research on taxation and … stimulate taxpayer behavior, the economically and socially oriented objectives of taxation, and guides needed for tax …
Persistent link: https://www.econbiz.de/10011551420
framework for the analysis of the relationship between taxation and economic growth. The second part focuses on the relations … between central government decisions on taxation and its influence on savings, investments and economic growth. In this part … authors checks two points of view on taxation. The first is that a low level tax burden is conducive to economic growth, and …
Persistent link: https://www.econbiz.de/10011551433
This paper studies the design of optimal fiscal policy when a government that fully trusts the probability model of government expenditures faces a fearful public that forms pessimistic expectations. We identify two forces that shape our results. On the one hand, the government has an incentive...
Persistent link: https://www.econbiz.de/10011599480
We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...
Persistent link: https://www.econbiz.de/10010264372
Large and growing levels of public debt in the United States, United Kingdom, Japan and the Euro Area raise new interest in the cross-country effects of a large open economy's deficits. We consider a dynamic optimising model with costly tax collection and exogenously given public spending and...
Persistent link: https://www.econbiz.de/10010274920
The following study identifies five periods with different price regimes (for main hydrocarbons): 1) 1986-1996, where these prices are part of the Government's fiscal policy to finance part of the structural adjustment policies after the inflationary period; 2) 19971999, when a new methodology...
Persistent link: https://www.econbiz.de/10014540920
The following study identifies five periods with different price regimes (for main hydrocarbons): 1) 1986-1996, where these prices are part of the Government's fiscal policy to finance part of the structural adjustment policies after the inflationary period; 2) 1997-1999, when a new methodology...
Persistent link: https://www.econbiz.de/10014541068
The common VAT system adopted by EU member states comprises a set of various rates, which differentiate the goods and services subject to this tax. However, from a technical and management point of view, it would be preferable to adopt a single tax rate as it reduces distortions and facilitates...
Persistent link: https://www.econbiz.de/10012218014
In this empirical study we assess both linear and nonlinear relationship between total taxation and several tax items … evaluate the effects of taxation on economic growth for both short and long run perspectives, and to find optimal tax threshold … values. We obtain evidence of nonlinear relationships between all tax items, except for corporate income taxation, as well as …
Persistent link: https://www.econbiz.de/10013353394