| 000 | 01774nab a2200265 c 4500 | ||
|---|---|---|---|
| 003 | ES-MaIEF | ||
| 005 | 20181115134624.0 | ||
| 007 | ta | ||
| 008 | 181115t2018 uk ||||| |||| 00| 0|eng d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
||
| 041 | _aeng | ||
| 100 | 1 |
_966717 _aDai, Darong |
|
| 245 | 0 |
_aFiscal policy under a minimun-time objetive _c Darong Dai |
|
| 260 | _c2018 | ||
| 500 | _aDisponible también en formato electrónico a través de la Biblioteca del IEF. | ||
| 500 | _aResumen. | ||
| 504 | _aBibliografía. | ||
| 520 | _aIn an endogenous growth model, we characterize the fiscal policy driven by a minimum-time objective of economic development. We find that in equilibrium government should levy the highest possible consumption taxes, reduce public expenditures to the lowest possible level, and keep labor income tax rate and capital income tax rate satisfy a substitution relationship at the balanced budget constraint. We also identify the condition under which income tax rate should be set to zero. We further find that the equilibrium fiscal policy is equivalent to the growth-maximizing fiscal policy, whereas it generally deviates from the welfare-maximizing fiscal policy. We hence identify a circumstance where setting the policy goal of reaching an economic-performance target as soon as possible can-not be justified in the sense of maximizing the welfare of households. | ||
| 650 | 4 |
_948067 _aPOLITICA FISCAL |
|
| 650 | 4 |
_950224 _aDESARROLLO ECONOMICO |
|
| 650 | 4 |
_947776 _aMODELOS ECONOMETRICOS |
|
| 773 | 0 |
_9158086 _oOP 564/2018/3 _tScottish Journal of Political Economy _w(IEF)68988 _x 0036-9292 _g v. 65, n. 3, July 2018, p. 293-314 |
|
| 856 | _uhttps://onlinelibrary.wiley.com/doi/epdf/10.1111/sjpe.12153 | ||
| 942 | _cART | ||
| 999 |
_c139261 _d139261 |
||