Download or read book Fiscal Policies Capital Formation and Capitalism written by Martin S. Feldstein and published by . This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This lecture examines the effects of tax policy and social security retirement benefits on capital accumulation and economic welfare. The paper begins by examining how capital income taxes reduce the real return to savers and then discusses the welfare loss of capital income taxation relative to the alternatives of taxing consumption and labor income. The second part deals with social security retirement benefits. In 1994, older Americans will receive cash and medical benefits that cost the government $530 billion or $16,000 per person over 65. A final section discusses the implications of international capital flows for this analysis. As capital flows become more important, the response of government policy may be to compete for foreign capital inflows and to tax domestic savers more heavily; leading to a smaller total volume of capital. The sharp decline in the net national saving rate-from over 8% of GDP in the U.S. in the 1970s to only 4.5% in the 1980s & from over 14% of GDP in Europe in the 1970s to 9.9% in the 1980s -- may not only create lower real incomes and slower growth but may weaken capitalism itself. In the US a decade of slow growth has increased protectionist tendencies in international trade and led to a new interest in industrial policies that expand the role of the government in guiding the direction of technology of private investment. Government policies that discourage saving might make the Schumpeterian vision of a shift from private capitalism to government-dominated economy more likely.

Download or read book Government Fiscal Policy and Private Capital Formation written by Douglas H. Joines and published by . This book was released on 1979 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tax Policy Options to Promote Private Capital Formation in Pakistan written by Andrew Feltenstein and published by World Bank Publications. This book was released on 1991 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Pakistan, at least, changes in corporate tax rates are probably better instruments for promoting capital promoting capital formation than are increased investment tax credits. Increasing the investment tax credit stimulates more capital formation than does decreasing corporate taxes, but the tax credits also increase inflation.

Download or read book Taxation and the Deficit Economy written by Dwight R. Lee and published by Pacific Studies in Public Poli. This book was released on 1986 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: This texts contains essays written by economists who review the effects of past government actions & reforms needed to avoid long term economic stagnation. Topics discussed include social security, the military industrial complex, & private vs. political entrpreneurship. Generally, the topics include such topics as the economic effects of taxation, spending, deficits, & other forms of hidden taxation, & taxation & individual rights.

Download or read book The Government and Capital Formation written by George M. Von Furstenberg and published by . This book was released on 1980 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Policy and Business Capital Formation written by American Enterprise Institute for Public Policy Research and published by . This book was released on 1967 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Economics of public finance written by and published by Atlantic Publishers & Distri. This book was released on 1974 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal and Monetary Policies Capital Formation and Economic Activity written by James Tobin and published by . This book was released on 1981 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Impact of Fiscal Policy Variables on Output Growth written by Philip R. Gerson and published by International Monetary Fund. This book was released on 1998 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on the relationship between the structure of taxation and public expenditure and economic growth. Apart from its macroeconomic effects, fiscal policy can affect the rate of growth of aggregate output through many channels. The impacts of public education expenditure on human capital formation, of the provision of public sector infrastructure on the productivity of private capital, and of capital income taxation on saving are but three of these. Given the need to examine the impact of the components of expenditure and tax policy on growth, the paper adopts a disaggregated approach. Its major concern is the way in which the components of expenditure and tax policy will affect the supply and productivity of labor and of capital and the efficiency of resource allocation.

Download or read book Fiscal Policy Public Capital and Economic Growth written by Moisa Altar and published by . This book was released on 2008 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effect of public investment on economic growth is a crucial public policy issue. Empirical research into this question was stimulated by Aschauer (1989), who suggested that public capital has a powerful impact on the productivity of private capital.Aschauer's results were controversial and have generated substantial empirical research directed at determining the robustness of his position. The present paper analyses the way in which public investment and fiscal policy influences the performances of economic growth. We analyze the impact of public investment on the dynamics of private capital formation in an intertemporal optimizing framework.Following W.H. Fischer and S.J.Turnovsky (1998), the public good is treated as a durable capital good, subject to congestion. The analysis is made on the basis of a dynamic model with discrete variables. The optimality conditions for the representative agent's problem are deduced on the basis of the Maximum Principle for discrete dynamic systems (Altar, 1976).The production function considered within the model is a function of three variables: labour, stock of private capital and services obtained from the stock of public capital. A critical feature of the model concerns the specification of the productive services derived by the representative agent from public capital. Several variants for this function are analysed in the paper. We also analyse several alternative modes of government financing. A qualitative analysis of the optimal trajectories is performed, on the basis of the information provided by the Maximum Principle, concerning the dynamics of the dual variable and the properties of the Lagrange multipliers. Finally, we analyse the influence of several fiscal and investment decisions on the optimal trajectories and on the performance-function of the model.

Download or read book Public Policy and Capital Formation written by Chamber of Commerce of the United States of America. Council on Trends and Perspective and published by . This book was released on 1978 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Government and Capital Formation written by George M. Von Furstenberg and published by . This book was released on 1978 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Role of Federal Tax Policy in Stimulating Capital Formation and Economic Growth written by United States. Congress. Joint Economic Committee. Subcommittee on Economic Growth and Stabilization and published by . This book was released on 1978 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Policy and Business Cycles written by Alvin Harvey Hansen and published by . This book was released on 1941 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Policies Inflation and Capital Formation written by Martin Feldstein and published by . This book was released on 1980 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Three ways of averting "excess saving" have been emphasized in both theory and practice. The thrust of the Keynesian prescription was to increase the government deficit to provide demand for the resources that would not otherwise be used for either consumption or investment. In this way, aggregate demand would be maintained by substituting public consumption for private consumption. A second alternative prescription was to reduce the private saving rate. Early Keynesians like Seymour Harris saw the new Social Security program as an effective way to reduce aggregate saving. The third type of policy, developed by JamesTobin, relies on increasing the rate of inflation and making money less attractive relative to real capital. In Tobin's analysis, the resulting increase in capital intensity offsets the higher saving rate and therefore maintains aggregate demand. This paper will examine ways of increasing capital intensity without raising the rate of inflation. The analysis will also show why, contrary to Tobin's conclusion, a higher rate of inflation may not succeed in increasing investors' willingness to hold real capital

Download or read book The Implications of Fiscal Conditions and Growing Internationalization for Monetary Policies and Financial Market Conditions written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-06-29 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper argues that the endogenous behavior of monetary authorities provides an important channel through which fiscal policy influences financial variables, and that growing internationalization has increased the sensitivity of financial conditions to fiscal policy. The core of the argument is that fiscal policy influences exchange rates, particularly to the extent that it affects the expected after-tax returns on capital located in different countries, and that the sensitivity of exchange rates to fiscal policy increases with growing internationalization. In addition, financial conditions reflect the actual and expected responses of the monetary authorities to exchange rates.

Download or read book Principles of Budgetary and Financial Policy written by Willem H. Buiter and published by . This book was released on 1990 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: