TAXATION, INNOVATION AND ENTREPRENEURSHIP

• 成果类型: Article
• 署名作者: Gersbach, Hans; Schetter, Ulrich; Schneider, Maik T.
• 署名单位: Swiss Federal Institutes of Technology Domain; ETH Zurich; University of St Gallen; University of Bath
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12588
• 发表日期: 2019
• 页码: 1731-1781
• 关键词: linear income taxation; basic research; risk-taking; INEQUALITY; ECONOMICS; selection; POLITICS; taxes; weak

摘要

We explore optimal and politically feasible growth policies consisting of basic research investments and taxation. We show that the impact of basic research on the general economy rationalises a taxation pecking order with high labour taxes and low profit taxes. This scheme induces a significant proportion of agents to become entrepreneurs, thereby rationalising substantial investments in basic research fostering their innovation prospects. These entrepreneurial economies, however, may make a majority of workers worse off, giving rise to a conflict between efficiency and equality. We discuss ways of mitigating this conflict, and thus strengthening political support for growth policies.