INVESTMENT-PROMOTING POLICIES IN OPEN ECONOMIES - THE IMPORTANCE OF INTERGENERATIONAL AND INTERNATIONAL DISTRIBUTIONAL EFFECTS
成果类型：
Article; Proceedings Paper
署名作者：
BOVENBERG, AL
署名单位：
Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
刊物名称：
JOURNAL OF PUBLIC ECONOMICS
ISSN/ISSBN：
0047-2727
发表日期：
1993
页码：
3-54
关键词：
摘要：
Using an intertemporal equilibrium model with overlapping generations, this paper explores how intergenerational and international distributional effects, in addition to intertemporal efficiency impacts, affect the macroeconomic consequences of investment-promoting policies. Whereas the intergenerational distributional effects may weaken the initial expansionary effects of an investment tax credit, they strengthen the short-run positive effects on domestic demand exerted by a lower corporate tax rate. The paper also explores several policies aimed at neutralizing the intergenerational and international distributional consequences of investment-promoting policies.