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  1. Welfare analysis in a Schumpeterian growth model with capital
    Author: Hagedorn, Marcus; Kaul, Ashok; Reinthaler, Volker
    Published: 2001
    Publisher:  Institute for the Study of Labor (IZA), Bonn

    In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 4 (283)
    Inter-library loan:
    No inter-library loan

     

    In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal solution. First, a monopoly distortion effect generates too little capital accumulation in the private solution because households' gross return per unit of capital will be lower than in the social optimum due to monopoly power. Second, a cost-benefit gap effect leads to excessive research in the private solution because the planner is interested in the average technology whereas the private researcher is interested in the leading edge technology. Third, we decompose the well-known intertemporal spillover effect into three subeffects and clarify why the planner uses the interest rate as discount rate.

     
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    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/21135
    Series: IZA Discussion paper series ; 283
    Subjects: Soziale Wohlfahrtsfunktion; Pareto-Optimum; Neoklassisches Wachstumsmodell; Vergleich; Endogenes Wachstumsmodell; Investition; Innovation; Technischer Fortschritt; Theorie; social planning model
    Scope: Online-Ressource ([1], 14 S.), graph. Darst.
  2. Efficiency properties of labor taxation in a spatial model of restricted labor mobility
    Author: Guggenberger, Patrik; Kaul, Ashok; Kolmar, Martin
    Published: 2001
    Publisher:  Institute for the Study of Labor (IZA), Bonn

    We examine the efficiency properties of labor taxation. A spatial model of an economy is introduced whose key feature is a new approach to restricted labor mobility. We characterize the efficient allocation of labor and properties of a decentralized... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 4 (287)
    Inter-library loan:
    No inter-library loan

     

    We examine the efficiency properties of labor taxation. A spatial model of an economy is introduced whose key feature is a new approach to restricted labor mobility. We characterize the efficient allocation of labor and properties of a decentralized equilibrium. An efficient allocation of labor can be compatible with marginal productivity differentials stemming from binding mobility restrictions. We investigate two scenarios of labor taxation (firm-specific taxes and countryspecific taxes) and in both setups we give a complete characterization of the cases for which there is scope for redistribution without affecting effciency. Finally, we discuss the applicability of our model in the context of the place of employment and place of residence principle of taxation.

     
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    Content information
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/21140
    Series: IZA Discussion paper series ; 287
    Subjects: Lohnsteuer; Ursprungsregeln; Steuerwirkung; Arbeit; Allokationseffizienz; Räumliches Gleichgewichtsmodell; Internationale Arbeitsteilung; Arbeitsmigranten; Steuerwettbewerb; social planning model
    Scope: Online-Ressource ([2], 30, [1] S.), graph. Darst.