The paper compares the way economies with exogenous and endogenous innovation respond to capital income taxes. If … innovation is exogenous, tax cuts increase saving. If innovation is endogenous, tax cuts increase innovation as well. Faster … innovation raises capital productivity and calls forth still more saving. A larger capital stock lowers the discount rate …

on life expectancy. It also shows that, in such a case, greener preferences are growth- and welfare-improving even if the … that the influence of environment on optimal growth in the long-run may be explained by the detrimental effect of pollution …

, automation capital, and population growth. In the empirical analysis, we find indications for cointegrating equations for the … step, we present a standard neoclassical growth model augmented by automation capital and capital adjustment costs that is …

change or globalization, but also by the dynamics of factor taxation, automation capital (robots), and population growth … shares and in automation capital. Second, we analyse and calibrate a neoclassical growth model extended to include factor …

This paper investigates the relevance of government purchasing behavior for innovation-based economic growth. We … incentive for private innovation activities. In contrast to the standard Schumpeterian growth framework, we account for industry … construct a parsimonious Schumpeterian growth model in which demand from the public sphere can effectively alter the economy …

This paper investigates the relevance of government purchasing behavior for innovation-based economic growth. We … incentive for private innovation activities. In contrast to the standard Schumpeterian growth framework, we account for industry … subject to their specific innovation size. -- public demand ; endogenous technological change ; Schumpeterian growth …

transfers should be distributed between labor and capital in a scale-less endogenous growth model, where the engine of growth … controversial prediction of first-generation endogenous growth models. Our contribution is to show that even when labor supply has … no effects on growth in the long run, it will still be optimal to tax capital, for reasonable parametrizations of the …

welfare effect of the redistribution. We show that, for parameter values consistent with available estimates, the optimal tax …

effects (lower GDP growth and lower income inequality); and welfare effects (lower dispersion of consumption across …This paper analyzes the effects of personal income tax progressivity on long-run economic growth, income inequality and … social welfare. The quantitative implications of income tax progressivity increments are illustrated for the US economy under …

In this paper, we quantitatively assess the welfare implications of alternative public education spending rules. To … only when the policy instrument is successful in smoothing the growth rate of human capital. …