Download or read book Tax Reform and Public Sector Investment in Human Capital written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Reserve Bank of San Francisco presents the full text of an article entitled "Tax Reform and Public Sector Investment in Human Capital," by Steven P. Cassou and Kevin J. Lansing. The article discusses the welfare and growth effects of various fundamental tax reforms in an economy where public sector expenditures contribute to human capital formation.
Download or read book Optimal Tax Reform and Public sector Investment in Human Capital written by Steven Peter Cassou and published by . This book was released on 1998 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Reform and Public Sector Expenditures written by Steven P. Cassou and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the economic effects of various fundamental tax reforms in a model with two types of public-sector expenditures; one type contributes to human capital formation while the other provides direct utility to households. We show that a fully-optimal reform requires the government to tax private consumption and adjust its spending to achieve the efficient levels of public investment and public consumption relative to output. Using quantitative simulations, we demonstate that the appropriate size of government can be quite important for efficiency. Revenue-neutral tax reforms (which adjust the tax structure but not the size of government) can miss out on a large portion of the available welfare gain from moving to a consumption-based tax system. Most studies of tax reform abstract from this issue completely because public-sector expenditures are assumed to be entirely wasteful. Our findings are robust to a variety of calibrations for which the optimal size of government can be either smaller or larger than the U.S. baseline. Under some calibrations, imposing revenue-neutrality can nearly erase the efficiency gains from shifting to a consumption tax. Overall, our results highlight the importance of taking into account both sides of the government's budget when assessing the potential benefits of fundamental tax reform.
Download or read book Taxes and Capital Formation written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists have long recognized the importance of capital accumulation for productivity and economic growth. The National Bureau of Economic Research is currently engaged in a study of the relationship between such accumulation and taxation policies, with particular focus on saving, risk-taking, and corporate investment in the United States and abroad. The papers presented in Taxes and Capital Formation are accessible, nontechnical summaries of fourteen individual research projects within that study. Complete technical reports on this research are published in a separate volume, The Effects of Taxation on Capital Accumulation, also edited by Martin Feldstein. By addressing some of the most critical policy issues of the day with a minimum of economic jargon, Taxes and Capital Formation makes the results of Bureau research available to a wide audience of policy officials and staff as well as to members of the business community. The volume should also prove useful for courses in public policy, business, and law. In keeping with Bureau tradition, the papers do not contain policy recommendations; instead, they promote a better understanding of how the economy works and the effects of specific policies on particular aspects of the economy.
Download or read book Women Men and Human Capital Development in the Public Sector written by Bonnie G. Mani and published by Rowman & Littlefield. This book was released on 2009 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Women, Men, and Human Capital Development in the Public Sector: Return on Investments analyzes the gap in wages paid to women and men who work for federal, state, and local governments; factors that contribute to disparities in pay; and organizational strategies for narrowing the gap. The gender gap in wages and status is closing. Changes in public policies and social and organizational changes have facilitated the development of human capital. However, many systemic, sociopsychological, and social barriers still limit women's career advancement in the public sector. American women earn approximately eighty cents for every dollar earned by men. Women hold less than 30 percent of executive positions in the private sector as well as federal, state, and local governments. This study analyzes factors, both legal and illegal, that lead to inequities in the pay and status of men and women. In recent turbulent economic times many organizations have eliminated jobs, facilitated early retirements, and lost employees frustrated by the lack of opportunities for advancement. Proactive organizations prepare for the unexpected by fully developing their human capital. Public policies have been less than effective in closing the wage gap, due in part to American culture and individual women's choices. Women are more likely than men to complete lower levels of education, enter the workforce later in life, and occupy lower-level positions. For these reasons the gender-based wage gap may never close, but, as the author points out, investments in human capital development may facilitate women's career advancement and narrow the gap. The author develops specific strategies for narrowing the wage gap and explores avenues of implementation. Book jacket.
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 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Taxation and Endogenous Growth in Open Economies written by Nouriel Roubini and published by . This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effects of taxation of human capital, physical capital and foreign assets in a multi-sector model of endogenous growth. It is shown that in general the growth rate is reduced by taxes on capital and labor (human capital) income. When the government faces no borrowing constraints and is able to commit to a given set of present and future taxes, it is shown that the optimal tax plan involves high taxation of both capital and labor in the short run. This allows the government to accumulate sufficient assets to finance spending without any recourse to distortionary taxation in the long run. When restrictions to government borrowing and lending are imposed, the model implies that human and physical capital should be taxed similarly.
Download or read book Budget Reform written by Douglas Allen Lauriston Auld and published by . This book was released on 1985 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book General Tax Reform Tax treatment of capital recovery investment credit accelerated depreciation and amortization written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1973 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book OECD Tax Policy Studies Tax Policy Reform and Economic Growth written by OECD and published by OECD Publishing. This book was released on 2010-11-03 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report investigates how tax structures can best be designed to support GDP per capita growth.
Download or read book Tax Policy and Human Capital Formation with Public Investment in Education written by Simone Valente and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Policy and Long Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Policy and Inclusive Growth written by Khaled Abdel-Kader and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-12-04 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, i.e. in support of inclusive growth. It starts with a discussion of the key principles from tax theory to guide practical tax design. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on labor and capital income, taxes on wealth, the corporate income tax, and consumption taxes. The paper concludes by highlighting the political economy considerations of the issues with concrete recommedtions as to how to implement tax reform.
Download or read book Tax Policy and Human Capital Formation written by James Joseph Heckman and published by . This book was released on 1998 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Missing from recent discussions of tax reform is any systematic analysis of the effects of various tax proposals on skill formation. This gap in the literature in empirical public finance is due to the absence of any empirically based general equilibrium models with both human capital formation and physical capital formation that are consistent with observations on modern labor markets. This paper is a progress report on our ongoing research on formulating and estimating dynamic general equilibrium models with endogenous heterogeneous human capital accumulation. Our model explains many features of rising wage inequality in the U.S. economy (James Heckman, Lance Lochner and Christopher Taber, 1998). In this paper, we use our model to study the impacts on skill formation of proposals to switch from progressive taxes to flat income and consumption taxes. For the sake of brevity, we focus on steady states in this paper, although we study both transitions and steady states in our research
Download or read book Human Capital and Public Policy in an Endogenously Growing Economy with Externalities written by Manachaya Uruyos and published by . This book was released on 2003 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book World Development Report 2019 written by World Bank and published by World Bank Publications. This book was released on 2018-10-31 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Work is constantly reshaped by technological progress. New ways of production are adopted, markets expand, and societies evolve. But some changes provoke more attention than others, in part due to the vast uncertainty involved in making predictions about the future. The 2019 World Development Report will study how the nature of work is changing as a result of advances in technology today. Technological progress disrupts existing systems. A new social contract is needed to smooth the transition and guard against rising inequality. Significant investments in human capital throughout a person’s lifecycle are vital to this effort. If workers are to stay competitive against machines they need to train or retool existing skills. A social protection system that includes a minimum basic level of protection for workers and citizens can complement new forms of employment. Improved private sector policies to encourage startup activity and competition can help countries compete in the digital age. Governments also need to ensure that firms pay their fair share of taxes, in part to fund this new social contract. The 2019 World Development Report presents an analysis of these issues based upon the available evidence.
