Søren Bo Nielsen (Institute of Economics, University of Copenhagen)
Abstract
This paper deals with dynamic adjustment in large economies to changes in the rate of capital income taxation or in the rate of investment tax credit in one country. The framework applied in the paper is a continuous-time, overlapping generations model with two countries. It features population growth and debt non-neutrality. We address impact and steady state effects of capital income tax and investment subsidy changes in the home country on consumption per capita, the capital intensity, and the per capita net foreign asset position in both countries.
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Publisher Info
Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number
89-20.
Length: 24 pages Date of creation: Oct 1989 Date of revision: Publication status: Published in: Journal of Economics/Zeitschrift für Nationalokonomie, 1992, 55(1) pp 77-99 Handle: RePEc:kud:kuiedp:8920
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Find related papers by JEL classification: F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy