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The Growth Rate Effects of Tax Reform

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Pecorino, Paul

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Abstract

A model of growth through the accumulation of human capital is set out and tax reforms simulated using the U.S. economy in 1985 as a basis for the benchmark parametrization. The growth rate effects of tax reform are found to be on the order of one percentage point of growth per capita. This gain in growth is associated with replacing the existing income tax structure with a consumption tax. Replacing the tax on physical capital with higher taxes on labor is found to be mildly growth reducing. The results are contrasted with those of R. E. Lucas (1990). Copyright 1994 by Royal Economic Society.

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Article provided by Oxford University Press in its journal Oxford Economic Papers.

Volume (Year): 46 (1994)
Issue (Month): 3 (July)
Pages: 492-501
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Handle: RePEc:oup:oxecpp:v:46:y:1994:i:3:p:492-501

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  1. Stephen P. Cassou & Kevin J. Lansing, 2002. "Growth effects of shifting from a progressive tax system to a flat tax," Working Papers in Applied Economic Theory 2000-15, Federal Reserve Bank of San Francisco. [Downloadable!]
  2. Fredriksson, Anders, 2007. "Compositional and dynamic Laffer effects in models with constant returns to scale," Research Papers in Economics 2007:2, Stockholm University, Department of Economics, revised 21 Apr 2007. [Downloadable!]
  3. Carlo Perroni, 1997. "Joint Production of Goods and Knowledge: Implications for Tax Reform," International Tax and Public Finance, Springer, vol. 4(2), pages 149-165, May. [Downloadable!] (restricted)
  4. Manuel Gomez, 2003. "Effects of Flat-Rate Taxes: to What Extent Does the Leisure Specification Matter?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 404-430, April. [Downloadable!] (restricted)
  5. Jie Zhang & James Davies & Jinli Zeng & Stuart McDonald, . "Optimal taxation in a growth model with public consumption and home production," MRG Discussion Paper Series 1707, School of Economics, University of Queensland, Australia. [Downloadable!]
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  6. Tsur, Yacov & Zemel, Amos, 2004. "Knowledge Spillover, Learning Incentives And Economic Growth," Discussion Papers 14991, Hebrew University of Jerusalem, Department of Agricultural Economics and Management. [Downloadable!]
  7. Steven P. Cassou & Kevin J. Lansing, 2002. "Tax reform and public-sector expenditures," Working Papers in Applied Economic Theory and Econometrics 98-09, Federal Reserve Bank of San Francisco. [Downloadable!]
  8. James B. Davies & Jie Zhang & Jinli Zeng, 2000. "Optimal tax mix in a two-sector growth model with transitional dynamics," Departmental Working Papers wp0105, National University of Singapore, Department of Economics. [Downloadable!]
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  9. Berthold Wigger, 2000. "On the Intergenerational Incidence of Wage and Consumption Taxes," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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  10. Mustafa Babiker, . "Taxation And Labor Supply Decision: The Implications of Human Capital Acumulation," API-Working Paper Series 0205, Arab Planning Institute - Kuwait, Information Center. [Downloadable!]
  11. Jinli Zeng, 2002. "Reexamining the Interaction between Innovation and Capital Accumulation," Departmental Working Papers wp0203, National University of Singapore, Department of Economics. [Downloadable!]
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