Wealth taxation and economic growth

• 成果类型: Article; Proceedings Paper
• 署名作者: Ihori, T
• 署名单位: University of Tokyo
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(00)00098-0
• 发表日期: 2001
• 页码: 129-148
• 关键词: wealth taxation; Economic growth; intergenerational transfer

摘要

This paper investigates the effect of wealth taxation on economic growth using an endogenous growth model with the altruistic bequest motive. We introduce intragenerational productivity differentials of human capital formation, resulting in differences of growth rates among individuals. The economy is divided into two groups; those who leave bequests to physical capital investment and those who leave bequests to human capital investment. An increase in taxes on life cycle savings will reduce the intragenerational growth differences, while the effect of taxation on bequests, wage income, or consumption on intragenerational growth differences is ambiguous. (C) 2001 Elsevier Science B.V. All rights reserved.