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Tax Evasion and Growth: a Banking Approach
Gillman, Max; Kejak, Michal - Közgazdaság-tudományi Intézet, Közgazdaság- és … - 2008
The paper formalizes the relation between flat taxes and growth when there is a competitive equilibrium tax evasion. A decentralized tax evasion service is supplied by the banking sector. The bank production function follows the financial intermediation microfoundation approach, with deposits as...
Persistent link: https://www.econbiz.de/10005242955
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Tax Evasion and Growth: a Banking Approach
Gillman, Max; Kejak, Michal - 2008
The paper formalizes the relation between flat taxes and growth when there is a competitive equilibrium tax evasion. A decentralized tax evasion service is supplied by the banking sector. The bank production function follows the financial intermediation microfoundation approach, with deposits as...
Persistent link: https://www.econbiz.de/10010494366
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Tax Evasion, Human Capital, and Productivity Induced Tax Rate Reduction
Gillman, Max; Kejak, Michal - Department of Economics, University of Missouri-St. Louis - 2013
The paper shows a key role of human capital in explaining how US postwar growth and welfare could have increased while tax rates declined. As in evidence, we assume that the share of government revenue in output has remained stable and model tax evasion within an endogenous growth model with...
Persistent link: https://www.econbiz.de/10010938562
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Tax evasion and growth: a banking approach
Gillman, Max (contributor); Kejak, Michal (contributor) - 2008
The paper formalizes the relation between flat taxes and growth when there is a competitive equilibrium tax evasion. A decentralized tax evasion service is supplied by the banking sector. The bank production function follows the financial intermediation microfoundation approach, with deposits as...
Persistent link: https://www.econbiz.de/10003740025
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A Human Capital Theory of Structural Transformation
Gillman, Max - 2020
The paper presents a human capital based theory of the sectoral transformation along the balanced growth path equilibrium. Allowing a small upward trend in the productivity of the human capital sector, combined with differential human capital intensity and constant productivity across sectors,...
Persistent link: https://www.econbiz.de/10012844067
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Tuning in RBC Growth Spectra
Benk, Szilard - 2017
For US postwar data, the paper explains central consumption, labor, investment and output correlations and volatilities along with output growth persistence by including a human capital investment sector and a variable physical capital utilization rate. Strong internal "amplication" results from...
Persistent link: https://www.econbiz.de/10012966555
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Flat Tax Reform.The Baltics 2000 – 2007.
Azacis, Helmuts; Gillman, Max - Közgazdaság-tudományi Intézet, Közgazdaság- és … - 2008
experiments, it results that equal flat tax rates on personal and corporate income would have increased welfare in all three …
Persistent link: https://www.econbiz.de/10005404536
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A Comparison of Exchange Economies within a Monetary Business Cycle
Benk, Szilárd; Gillman, Max; Kejak, Michal - Economics Section, Cardiff Business School - 2005
The paper sets out a monetary business cycle model with three alternative exchange technologies, the cash-only, shopping time, and credit production models. The goods productivity and money shocks affect all three models, while the credit model has in addition a credit productivity shock. The...
Persistent link: https://www.econbiz.de/10005811700
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Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks
Benk, Szilárd; Gillman, Max; Kejak, Michal - Centre for Dynamic Macroeconomic Analysis, University … - 2006
The explanation of velocity has been based in substitution and income effects, since Keynes’s (1923) interest rate … explanation and Friedman’s (1956) application of the permanent income hypothesis to money demand. Modern real business cycle … and in the cost of financial intermediation, but opposite effects upon growth, through permanent income effects that are …
Persistent link: https://www.econbiz.de/10005698034
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US Volatility Cycles of Output and Inflation, 1919-2004: A Money and Banking Approach to a Puzzle
Benk, Szilárd; Gillman, Max; Kejak, Michal - C.E.P.R. Discussion Papers - 2009
The post-1983 moderation coincided with an ahistorical divergence in the money aggregate growth and velocity volatilities away from the downward trending GDP and inflation volatilities. Using an en dogenous growth monetary DSGE model, with micro-based banking production, enables a contrasting...
Persistent link: https://www.econbiz.de/10005666738