Political Economy of Taxation, Debt Ceilings, and Growth

Ono, Tetsuo; Uchida, Yuki

Political Economy of Taxation, Debt Ceilings, and Growth

Ono, Tetsuo; Uchida, Yuki

Discussion Papers In Economics And Business, 2018, 18-22, 1-42

アクセス数:442件（2025-07-14 10:56 集計）

固定URL: https://hdl.handle.net/11094/70091

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タイトル	Political Economy of Taxation, Debt Ceilings, and Growth
著者	NRID 1000050305661 1000050305661 ORCID 0000-0002-9838-828X 0000-0002-9838-828X researchmap permalink tono tono Scopus Author ID 7403947415 7403947415 著者名 Ono, Tetsuo
著者	著者名 Uchida, Yuki
キーワード等	Capital taxation
	Public debt
	Economic growth
	Probabilistic voting
	Overlapping-generations model
抄録	This study presents an overlapping-generations model with physical and human capital accumulation and considers probabilistic voting over capital and labor taxes and public debt to finance public education expenditure. Our analysis shows that the greater political power of the old induces the government to raise the labor tax on the young and lower the capital tax on the old as well as issue debt. The analysis also shows that the introduction of a debt ceiling rule calls for a rise in the labor tax and thus lowers the welfare of the currently working generation. However, it increases the growth rate, and this growth effect raises the welfare of future generations. These benefits last for a long period even if the rule is imposed only for a limited time.
出版者	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
収録物名	Discussion Papers In Economics And Business
巻(号)	18-22
ページ	1-42
刊行年月	2018-07
言語	英語
ハンドルURL	https://hdl.handle.net/11094/70091
NCID	AA1160366X
関連情報 (references)	URI http://www2.econ.osaka-u.ac.jp/library/global/dp/1822.pdf
アクセス権	metadata only access
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP
カテゴリ	Discussion Papers In Economics And Business

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Discussion Papers In Economics And Business. 2018, 18-22, p. 1-42
DC.title	Political Economy of Taxation, Debt Ceilings, and Growth
DC.creator	Ono, Tetsuo
DC.creator	Uchida, Yuki
DC.publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2018-07
DC.relation' scheme='DCTERMS.URI	http://www2.econ.osaka-u.ac.jp/library/global/dp/1822.pdf
DC.subject	Capital taxation
	Public debt
	Economic growth
	Probabilistic voting
	Overlapping-generations model
DCTERMS.abstract	This study presents an overlapping-generations model with physical and human capital accumulation and considers probabilistic voting over capital and labor taxes and public debt to finance public education expenditure. Our analysis shows that the greater political power of the old induces the government to raise the labor tax on the young and lower the capital tax on the old as well as issue debt. The analysis also shows that the introduction of a debt ceiling rule calls for a rise in the labor tax and thus lowers the welfare of the currently working generation. However, it increases the growth rate, and this growth effect raises the welfare of future generations. These benefits last for a long period even if the rule is imposed only for a limited time.
DC.format	70091
citation_title	Political Economy of Taxation, Debt Ceilings, and Growth
citation_author	Ono, Tetsuo
citation_author	Uchida, Yuki
citation_publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
citation_language	英語
citation_date	2018-07
citation_journal_title	Discussion Papers In Economics And Business
citation_volume	18-22
citation_firstpage	1
citation_lastpage	42
citation_public_url	https://hdl.handle.net/11094/70091
citation_abstract_html_url	http://www2.econ.osaka-u.ac.jp/library/global/dp/1822.pdf

Political Economy of Taxation, Debt Ceilings, and Growth

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