Taxation, growth, and resource extraction. A general equilibrium approach
This paper deals with taxation in a framework which is a synthesis between the neoclassical growth model, augmented by a (separable) sector of resource-extracting firms, and the Fisherian intertemporal general equilibrium model: market forces bring about the neoclassical optimal growth path under laissez faire, but taxation may result in welfare-reducing distortions. The taxes studied comprise ad valorem, capital-income, and capital-gains taxes, where the tax revenue is assumed to be redistributed in a lump-sum fashion. Particular attention is paid to the second-best problem of whether capital-income taxation should be supplemented by capitalgains taxation.
Year of publication: |
1982
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Authors: | Sinn, Hans-Werner |
Institutions: | Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München |
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