sustained growth and increases welfare. Further, if the steady state is unstable under laissez faire, the introduction of the … subsidy can make the steady state stable. Such a policy has beneficial effects as it fosters output growth along the …We consider a simple model of innovation where equilibrium cycles may arise and show that, whenever actual capital …

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 …

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

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 …

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 …

We evaluate the growth and welfare effects of budget-neutral reforms in the US tax system. Large gains in welfare and … growth could result from adopting a consumption-based tax system. In contrast, significant welfare and growth losses would …-negligible welfare and growth gains. …

growth. We propose a production-based asset pricing model with endogenous innovation and fiscal policy shocks that can …Elevated levels of government debt raise concerns about their effects on long-term growth prospects. Using the cross …. Furthermore, rises in the cost of capital for innovation-intensive firms predict declines in subsequent productivity and economic …

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. …

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. …