Optimal fiscal policy, public capital, and the productivity slowdown

Article Abstract:

A consistency was established between a simple growth model's optimal transition dynamics and public capital's pattern of allocation in the US economy for the past 70 years. A quantitative theoretical model revealed that since 1925, the pattern of allocation of public and private capital under the US economy is almost similar with the optimal transition path derived from a simple growth model. The model also revealed that the pattern of US tax rate increase recorded since the end of World War II greatly contributed to the marked productivity slowdown observed in the US economy.

Productivity, Households & Noncorps Capital Accum, Labor productivity

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Optimal taxation of capital income with imperfectly competitive product markets

Article Abstract:

Judd's analysis is used in studying other model features and parameters that control the sign of the steady-state optimal tax on capital income. It is assumed that depreciation of physical capital, a depreciation tax allowance and endogenous government expenditures exist. Results indicate that the steady-state optimal tax on capital income can be negative, positive or zero depending on the degree of monopoly power, the degree to which monopoly profits can be taxed, the size of the depreciation allowance and the magnitude of government expenditures.

Capital Gains Taxes, Models, Tax administration and procedure, Tax administration, Taxation, Capital gains tax

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Capital controls policy: an intertemporal perspective

Article Abstract:

An intertemporal analysis of capital controls policy was conducted through the use of a small, open economy model. The interaction of conventional policy and controls policy instruments is found to yield reliable substantial effects. The interaction occurs when controls influence the intertemporal asset allocation and consumption patters on the agents. Real effects can also be detected in the domestic and foreign markets when a change policy happens.

Administration of General Economic Programs, Economics, Research and Development in the Social Sciences and Humanities, Currency Stabilization Programs, Monetary policy, Currency stabilization

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