The Wealth Tax and Economic Growth
AbstractHeated discussions of the economic effects of the wealth tax have raged in the popular media in a number of European countries. The academic community has been considerably quieter, however. This paper attempts to fill this gap by empirically estimating the relationship between the wealth tax and economic growth in 20 OECD countries over the time period 1980 to 1999. Using an instrumental variables approach and "differenced" data to control for two types of endogeneity, I find fairly robust support for the popular contention that wealth taxes dampen economic growth. The estimated magnitude, however, is somewhat less alarming than popular account.
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Bibliographic InfoPaper provided by Lund University, Department of Economics in its series Working Papers with number 2002:20.
Length: 22 pages
Date of creation: 30 Oct 2002
Date of revision:
Publication status: Published in World Tax Journal, 2010, pages 19-34.
Contact details of provider:
Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund,Sweden
Phone: +46 +46 222 0000
Fax: +46 +46 2224613
Web page: http://www.nek.lu.se/en
More information through EDIRC
Wealth tax; economic growth; OECD countries;
Find related papers by JEL classification:
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
- H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-11-04 (All new papers)
- NEP-DEV-2002-11-04 (Development)
- NEP-PBE-2002-11-04 (Public Economics)
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:CitEc Project, subscribe to its RSS feed for this item.
- Hansson, Åsa, 2005. "The Wealth Tax and Entrepreneurial Activity," Working Papers 2005:43, Lund University, Department of Economics.
- Atkinson, A.B., 2006. "Concentration among the Rich," Working Paper Series RP2006/151, World Institute for Development Economic Research (UNU-WIDER).
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