Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/176282 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
Working Paper No. 264
Verlag: 
Indian Council for Research on International Economic Relations (ICRIER), New Delhi
Zusammenfassung: 
We construct a tractable endogenous growth model with production externalities in which the public capital stock augments investment specific technological change. We characterize the first best fiscal policy and show that there exist several labor and capital tax-subsidy combinations that decentralize the planner's growth rate. The optimal factor income tax mix is therefore indeterminate which gives the planner the flexibility to choose policy rules from a large set. Our model explains why many advanced economies experiencing similar growth rates have widely varying factor income tax rates.
Schlagwörter: 
Investment Specific Technological Change
Endogenous Growth
Factor Income Taxation
Welfare
First best fiscal policy
Indeterminacy
JEL: 
E2
E6
H2
O4
Dokumentart: 
Working Paper

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