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Growth Effects of Flat-Rate Taxes / Nancy L. Stokey, Sergio Rebelo.
- Format:
- Book
- Author/Creator:
- Stokey, Nancy L.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w4426.
- NBER working paper series no. w4426
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1993.
- Summary:
- Recent estimates of the potential growth effects of tax reform vary widely, ranging from zero (Lucas 1990) to eight percentage points (Jones, Manuelli, and Rossi 1993). Using an endogenous growth model, we assess which model features and parameter values are important for determining the quantitative impact of tax reform. We find that the critical parameters are factor shares, depreciation rates, the elasticity of intertemporal substitution, and the elasticity of labor supply. The elasticities of substitution in production, on the other hand, are relatively unimportant. The quantitative estimates in several recent papers are compared with each other and with some of the evidence from U.S. experience.
- Notes:
- Print version record
- August 1993.
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