Taxation and growth with overlapping generations

• 成果类型: Article
• 署名作者: Yakita, A
• 署名单位: Chukyo University
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(01)00083-4
• 发表日期: 2003
• 页码: 467-487
• 关键词: Human capital; overlapping generations; taxation; Economic growth

摘要

This paper examines the growth effects of wage and interest income taxation in an endogenous growth model, which is characterized by diminishing point-in-time returns in human-capital producing technology and overlapping generations of two-period-lived individuals. We show that the greater the long-term learning time of individuals the more individuals inherit human capital from the previous generation. We demonstrate that a flat-rate wage tax stimulates economic growth, while interest income taxation does not necessarily foster such growth. Intergenerational redistribution induces individuals to change both physical and human capital accumulation, affecting the growth rate through changes in factor prices. (C) 2002 Elsevier Science B.V. All rights reserved.