Taxation and long-run growth
Article Abstract:
Empirical evidence suggests that the growth effects of tax reforms tend to be smaller and significantly less sensitive in neoclassical models that generate realistic life-cycle behavior. The assumption is that households are finitely lived and therefore face diminishing point in time returns in the accumulation of human capital. Reasonable upper bounds for growth effects in such a scenario are less than one third of some values cited in the literature.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1999
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Determinacy and expectational stability of equilibrium in a monetary sticky-price model with Taylor rule
Article Abstract:
Taylor rule that incorporates suitable properties for rendering determinacy and e-stability of balance in monetary sticky-price model is discussed.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 2006
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