Growth Effects of Income and Consumption Taxes: Positive and Normative Analysis

Growth Effects of Income and Consumption Taxes: Positive and Normative Analysis

The effects of income and consumption taxation are examined in the context of models in which the growth process is driven by the accumulation of human and physical capital. The different channels through which these taxes affect economic growth are discussed, and it is shown that in general the tax...

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Veröffentlicht in:NBER Working Paper Series 1995-10, p.5317
Hauptverfasser: Roubini, Nouriel, Milesi Ferretti, Gian Maria
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Bile
Economic theory
International Finance and Macroeconomics
Public Economics
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description The effects of income and consumption taxation are examined in the context of models in which the growth process is driven by the accumulation of human and physical capital. The different channels through which these taxes affect economic growth are discussed, and it is shown that in general the taxation of factor incomes (human and physical capital) is growth-reducing. The effects of consumption taxation on growth depend crucially on the elasticity of labor supply, and therefore on the specification of the leisure activity. The paper also derives implications for the optimal intertemporal choice of tax instruments.
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subjects Bile
Economic theory
International Finance and Macroeconomics
Public Economics
title Growth Effects of Income and Consumption Taxes: Positive and Normative Analysis
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