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Consumption Taxation, Social Status and Indeterminacy in Models of Endogenous Growth with Elastic Labor Supply

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Author Info
Itaya, Jun-ichi
Kanamori, Naoshige
Abstract

This paper examines the effects of consumption taxation on longrun growth in an infinity-lived representative agent model of endogenous growth in which the desire for social status induces private agents to care about others’ wealth or consumption levels. We also allow for nonseparable preferences in own consumption, labor supply and social status that may cause indeterminacy of equilibrium. This analysis shows that consumption taxation generally raises (reduces) a long-run growth rate when the balanced growth path is indeterminate (determinate) in the models of wealth-induced social status and consumption externalities.

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File URL: http://hdl.handle.net/2115/32614
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File URL: http://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/32614/1/DPA199.pdf
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Publisher Info
Paper provided by Graduate School of Economics and Business Administration, Hokkaido University in its series Discussion paper series. A with number 199.

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Length: 35 pages
Date of creation: Apr 2008
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Handle: RePEc:hok:dpaper:199

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Web page: http://www.econ.hokudai.ac.jp/en08/
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Related research
Keywords: Social Status; Endogenous Growth; Consumption Externality; Indeterminacy; Consumption Taxation; Endogenous Labor Supply;

Find related papers by JEL classification:
D62 - Microeconomics - - Welfare Economics - - - Externalities
D90 - Microeconomics - - Intertemporal Choice and Growth - - - General
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
P10 - Economic Systems - - Capitalist Systems - - - General

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