Download or read book Dynamic Fiscal Policy with Endogenous Human Capital written by Wayne Robert Hickenbottom and published by . This book was released on 1992 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dynamic fiscal policy with endogenous human capital written by Wayne R. Hickenbottom and published by . This book was released on 1994 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Policy in an Endogenous Growth Model with Human Capital Accumulation written by Salvador Ortigueira and published by . This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Taxation and Endogenous Growth in Open Economies written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1994-07-01 with total page 37 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 The Dynamic Effects of Taxes and Government Spending in a Calibrated Canadian Endogenous Growth Model written by Jing Xu and published by . This book was released on 1997 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Policy Implications in Endogenous Growth Models written by Bin Xu and published by International Monetary Fund. This book was released on 1994-03 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys the tax policy implications in various endogenous growth models. The focus is on the long-run growth effects of income, consumption, and investment taxation in models whose engine of growth is the accumulation of human capital, technological innovation, and/or public infrastructure. The results depend on model specifications. This paper also reviews quantitative results from cross-country regressions and simulations, and indicates some statistical and methodological problems to which they are subject. Tax policy implications in endogenous growth models both with tax policy endogenously determined by a political process and with international capital mobility are also discussed.
Download or read book The Design of Fiscal Reform Packages written by Andrew Hodge and published by International Monetary Fund. This book was released on 2016-08-20 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the impact on growth, welfare, and government debt of fiscal reform packages in a theoretical model drawing together three key features of the endogenous growth literature: (i) investment in technology (in the form of human capital) offsets diminishing marginal productivity of private capital, allowing for perpetual growth in output per capita; (ii) changes in investment behavior because of cuts to distortionary tax rates impact long-run growth; and (iii) public capital has a role influencing total factor productivity and growth. A quantitative simulation using reasonable parameter values suggests that modest capital and/or labor income tax cuts and public investment increases have significant positive effects on consumer welfare but small effects on per capita income growth, where fiscal costs are offset by reductions in unproductive government spending. Capital income tax cuts and public investment increases continue to boost welfare when offset by consumption tax rises (rather than spending cuts), although the welfare benefits of modest labor income tax cuts are outweighed by the costs of a compensating consumption tax increase.
Download or read book Dynamic Fiscal Policy written by Alan J. Auerbach and published by . This book was released on 1988 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Policy Public Expenditure Composition and Growth written by Willi Semmler and published by World Bank Publications. This book was released on 2007 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Uzawa Lucas Endogenous Growth Model written by Paolo Mattana and published by Routledge. This book was released on 2017-11-30 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using state of the art mathematical techniques this book provides a complete characterization of the Uzawa-Lucas growth model. In his path-breaking contribution on the 'Mechanics of Economic Growth' Lucas suggested that human capital is the key variable through which technical change is most likely to occur and (by taking some initial intuitions of Uzawa a step further) proposed a two-sector capital accumulation growth model where human capital is allowed to enter a neo-classical-style production structure in multiplicative terms. In this book Paolo Mattana fully explores the dynamic possibilities of the model from both the market and the centralized perspective. A critical evaluation of the inefficiency in the market economy is also provided.
Download or read book Fiscal Policy in a Growth Model with a Public Capital Externality written by Bassam Awad and published by LAP Lambert Academic Publishing. This book was released on 2010-12 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses three questions that are central to the analysis of fiscal policy. First, how good are linearization and higher-order approximations in an endogenous growth model with public capital? Second, how important are the transitional dynamics in assessing fiscal policy alternatives when comparing the long-run economic growth and welfare? Third, is a consumption tax optimal in an economy with public and private human capital when the tax structure is time-invariant? To answer these questions, I have used an endogenous growth model where the growth is driven by accumulation of human capital and fueled by a public capital externality. I conclude: (i) the policies that involve the highest rates of economic growth do not always provide the highest welfare; (ii) the traditional methods used to analyze the impact of tax policy alternatives might involve significant approximation errors, and the use of actual transitional path in analyzing fiscal policy in this book eliminates this problem; and (iv) the long-run welfare benefits of fiscal policy reform may take years to be realized, with welfare losses accruing in the short-run.
Download or read book Fiscal Policy in Human Capital Endogenous Growth Models written by Don I. Asoka Wöhrmann and published by . This book was released on 1998 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimal Taxation in an Endogenous Growth Model with Human Capital written by Nicholas Bull and published by . This book was released on 1992 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Economic Growth and Development written by Sibabrata Das and published by Springer. This book was released on 2018-08-16 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text is an introduction to the newer features of growth theory that are particularly useful in examining the issues of economic development. Growth theory provides a rich and versatile analytical framework through which fundamental questions about economic development can be examined. Structural transformation, in which developing countries transition from traditional production in largely rural areas to modern production in largely urban areas, is an important causal force in creating early economic growth, and as such, is made central in this approach. Towards this end, the authors augment the Solow model to include endogenous theories of saving, fertility, human capital, institutional arrangements, and policy formation, creating a single two-sector model of structural transformation. Based on applied research and practical experiences in macroeconomic development, the model in this book presents a more rigorous, quantifiable, and explicitly dynamic dual economy approach to development. Common microeconomic foundations and notation are used throughout, with each chapter building on the previous material in a continuous flow. Revised and updated to include more exercises for guided self study, as well as a technical appendix covering required mathematical topics beyond calculus, the second edition is appropriate for both upper undergraduate and graduate students studying development economics and macroeconomics.
Download or read book Dynamic Economy with Heterogeneous Agents written by Yulei Peng and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three essays about heterogeneous agents in the dynamic economy and how to deal with the asymmetric information arose by heterogeneity. Firstly, I consider the optimal taxation issue in a dynamic endogenous growth model with considering human capital accumulation, and agents ability is heterogeneous and private information. Moreover, the agents with higher ability have positive external effects on others. By using the two-sector endogenous model, I show that it is optimal to impose different income and capital income taxes on people with different abilities. Specifically, positive marginal income tax is adopted for people with lower ability while no tax is imposed for people with higher ability; marginal capital income tax is zero whatever the agent's is low or high. As for people using the capital and labor for human capital accumulation, the government should subsidize them whatever their ability is. Secondly, I study the optimal monetary and fiscal policy with heterogeneous agents based on the search-theoretical environment where money is essential and consider the private information. I first solve the households' problem in the centralized and decentralized market, and find out the optimal conditions. Then, in this section, I describe the problem that social planner faces by involving uncertainty and agents whose types are continuous. By comparing the optimal conditions in this generous setting, I show that the Friedman rule is no longer optimal when jointed with nonlinear taxation of income. Moreover, the capital income taxation is not zero. Moreover, I constructs a general theoretical model to consider two kinds of financial frictions in the economy with financial intermediaries. By quantitative analysis the model with three separate shocks which are a negative collateral shock, a negative productivity shock and a positive shock to bankers' divert rate, I find that a negative collateral shock which tightens firms' financing constraints on investment can generate an equity price boom which is different from what is observed in recessions. Therefore, the collateral shock is not the main reason for the business cycle, while the negative productivity shock and bankers' moral hazard problem are more important aspects to explain current economy. The electronic version of this dissertation is accessible from http://hdl.handle.net/1969.1/151328
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.
