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Tax Policy, Investments in Human and Physical Capital, and Productivity / Marc Nerlove, Assaf Razin, Efraim Sadka, Robert K. von Weizsacker.
- Format:
- Book
- Author/Creator:
- Nerlove, Marc.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3531.
- NBER working paper series no. w3531
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1990.
- Summary:
- This paper analyzes the implications of tax policy for the accumulation of human and physical capital and for the overall productivity level of the economy. A comprehensive income tax, applying to both labour income and capital income. discriminates against investments in human capital relative to investments in physical capital. Hence. it has an adverse impact on human capital accumulation. Taking into account a positive external effect of investments in human capital on overall productivity, the adverse effect of income taxation on human capital investments is significantly magnified.
- Notes:
- Print version record
- December 1990.
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