The Laffer curve revisited

• 成果类型: Article
• 署名作者: Trabandt, Mathias; Uhlig, Harald
• 署名单位: University of Chicago; European Central Bank; Deutsche Bundesbank; National Bureau of Economic Research
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2011.07.003
• 发表日期: 2011
• 页码: 305-327

摘要

Laffer curves for the US, the EU-14 and individual European countries are compared, using a neoclassical growth model featuring constant Frisch elasticity (CFE) preferences. New tax rate data is provided. The US can maximally increase tax revenues by 30% with labor taxes and 6% with capital taxes. We obtain 8% and 1% for the EU-14. There, 54% of a labor tax cut and 79% of a capital tax cut are self-financing. The consumption tax Laffer curve does not peak. Endogenous growth and human capital accumulation affect the results quantitatively. Household heterogeneity may not be important, while transition matters greatly. (C) 2011 Elsevier B.V. All rights reserved.