A taxation policy toward capital, technology and long-run growth

Article Abstract:

The extent to which tax policies influence privately-funded research and development (R and D) was studied. Economist Paul M. Romer's R and D-based endogenous growth model was loaded with particular features of the US tax code, especially R and D expenses and corporate interest deductions to analyze how long-run growth was affected by taxation of different-source capital income through distortion of input demands, savings and stock market P/E ratios. The results showed that a lower income tax rate was required for pro-growth tax system.

Industrial research

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Money, taxes, and endogenous growth

Article Abstract:

A study of the positive and normative consequences of distortionary taxation in a monetary endogenous growth model with technological externalities reveals that fiscal policy implications obtained from non-monetary growth models may substantially understate the actual impact. Findings further reveal that the inclusion of money into growth models may affect policies that are sustainable since it introduces another condition that needs to be satisfied for a policy to become sustainable.

Analysis, Money, Fiscal policy

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Sectoral contributions to total factor productivity: another perspective on the growth slowdown

Article Abstract:

Research on economic growth fluctuations indicates that both direct and indirect demand for goods from construction, energy and retail and wholesale trades drives specific outputs. A rise in requirements by energy and by both durable and nondurable manufacturing drives input.

United States, Administration of Urban Planning and Community and Rural Development, Economic Development NEC, Production (Economics)

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