search query: @indexterm PURCHASE TAX / total: 12
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| Author: | Milesi-Ferretti, G. M. Roubini, N. |
| Title: | Growth effects of income and consumption taxes. |
| Journal: | Journal of Money, Credit and Banking
1998 : NOV, VOL. 30:4, p. 721-744 |
| Index terms: | Income tax Purchase tax Human capital |
| Language: | eng |
| Abstract: | The authors examine the effects of income and consumption taxation in the context of models in which the growth process is driven by the accumulation of human and physical capital. They discuss the different channels through which these taxes affect economic growth. They show that the effects of taxation on growth depend crucially on whether the sector producing human capital is a market sector, on the technology for human capital accumulation, and on the specification of the leisure activity. The article also derives implications for the growth-maximizing choice of tax instruments. |
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