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Optimal Taxation in Models of Endogenous Growth
We study the problem of optimal taxation in three infinite-horizon, representative-agent endogenous growth models. The first model is a convex model in which physical and human capital are perfectly
A Convex Model of Equilibrium Growth: Theory and Policy Implications
Our aim in this paper is to exposit a convex model of equilibrium growth. The model has two features that distinguish it from most other work on the subject: first, that the model is convex on the
On the Optimal Taxation of Capital Income
One of the best known results in modern public finance is the Chamley-Judd result showing that the optimal tax rate on capital income is zero in the long-run. In this paper, we reexamine this result
Human Capital and the Wealth of Nations†.
It is found that effective human capital per worker varies substantially across countries, and the model implies that output per worker is highly responsive to changes in TFP and demographic variables.
The growth effects of monetary policy
This article investigates the relationship between inflation and output, in the data and in standard models. The article reports that empirical cross-country studies generally find a nonlinear,
Abstract: We study the large observed changes in labor supply by married women in the United States over the post-World War II period, a period that saw little change in the labor supply by single
Endogenous Policy Choice: The Case of Pollution and Growth
What determines the relationship between pollution and growth? Are the forces that explain the behavior over time of these quantities potentially useful to understand more generally the relationship