Dynamic scoring: a back-of-the-envelope guide

"This paper uses the neoclassical growth model to examine the extent to which a tax cut pays for itself through higher economic growth. The model yields simple expressions for the steady-state feedback effect of a tax cut. The feedback is surprisingly large: for standard parameter values, half...

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Bibliographische Detailangaben
Hauptverfasser: Mankiw, Nicholas Gregory 1958- (VerfasserIn), Weinzierl, Matthew (VerfasserIn)
Format: Buch
Sprache:English
Veröffentlicht: Cambridge, Mass. National Bureau of Economic Research 2004
Schriftenreihe:National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11000
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Zusammenfassung:"This paper uses the neoclassical growth model to examine the extent to which a tax cut pays for itself through higher economic growth. The model yields simple expressions for the steady-state feedback effect of a tax cut. The feedback is surprisingly large: for standard parameter values, half of a capital tax cut is self-financing. The paper considers various generalizations of the basic model, including elastic labor supply departures from infinite horizons, and non-neoclassical production settings. It also examines how the steady-state results are modified when one considers the transition path to the steady state"--National Bureau of Economic Research web site.
Beschreibung:25 S. graph. Darst.

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