期刊名称：HIER Discussion Paper Series / Harvard Institute of Economic Research
出版年度：2005
卷号：2005
出版社：Harvard Institute of Economic Research
摘要：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
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