Matches in SemOpenAlex for { <https://semopenalex.org/work/W62275742> ?p ?o ?g. }
- W62275742 abstract "Is it possible to increase growth and welfare by raising lump-sum taxes and disposing of the tax revenues? Is it possible to increase welfare by raising capital income taxes and redistributing the revenue as a subsidy to labor income? This thesis shows these may indeed be the case instandard R&D models with technological change, represented either by an increase in the variety of intermediate goods or by creative destruction. The key mechanism is that with elastic labor supply the tax programs canincrease the employment rate in equilibrium. This creates two spillover effects on the R&D pace. In addition the tax programs themselves will have level effect on the instantaneous utility. The relative momentums of the spillovers and the level effect determine the sign of the welfare effect. It is shown that, for parameter values consistent with available estimates,the growth and welfare can both be improved under the wasted lump-sum tax program, and that the welfare effect can be positive even if the long-run growth rate decreases after the increase in the capital income taxrate." @default.
- W62275742 created "2016-06-24" @default.
- W62275742 creator A5040453897 @default.
- W62275742 date "2009-12-21" @default.
- W62275742 modified "2023-09-27" @default.
- W62275742 title "Optimal taxation in R&D driven endogenous growth models" @default.
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