Quantifying Optimal Growth Policy

This paper develops a comprehensive endogenous growth framework to determinethe optimal mix of growth policies. The analysis is novel in that we captureimportant elements of the tax-transfer system and fully take into account transitionaldynamics in our numerical analysis. Currently, for calculating corporatetaxable income US firms are allowed to deduct approximately all of their capitaland R&D costs from sales revenue.[...]

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Year of publication:	2010-03-08
Authors:	Grossmann, Volker ; Steger, Thomas M.
Institutions:	Universität <Hannover> / Wirtschaftswissenschaftliche Fakultät
Subject:	Steuer \| Wirtschaftswachstum \| Technische Entwicklung \| Transfer \| transfer

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1 Introduction
2 TheModel
3 Steady State Analysis
3.1 Market Equilibrium
3.2 Social Planning Optimum
4 Calibration
4.1 Policy Parameters
4.2 Other Parameters
5 Optimal Long Run Policy Mix
5.1 R&D Investment
5.2 Physical Capital Investment
5.3 Comparison to the Literature
6 Dynamic Policy Evaluation
6.1 Change in Single Policy Instruments
6.2 Optimal Policy Mix
7 Conclusion
Appendix

Persistent link: https://www.econbiz.de/10005870766