Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.22/21955 |
Resumo: | We propose a general equilibrium knowledge-driven (semi-)endogenous-growth model with horizontal R&D, which is extended to consider two types of labour, skilled and unskilled, and exogenous government expenditure, financed through taxes on financial assets and on labour income, to analyse the implications of the tax system on R&D intensity, economic growth, wage inequality and consumption share in the output. In particular, we show that: (i) taxes have negative influence in the consumption share, being higher the marginal effect of the labour-income tax; (ii) for any given government expenditure share, an increase (a decrease) in financial-assets tax decreases (increases) the labour-income tax; (iii) only the financial-assets tax affects negatively the R&D intensity and the skill-premium; thus, to reduce the skill-premium the financial-assets tax must increase; (iv) ignoring the effect on wage inequality and on R&D intensity, taxes are substitutes. |
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Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption ShareTax systemWe propose a general equilibrium knowledge-driven (semi-)endogenous-growth model with horizontal R&D, which is extended to consider two types of labour, skilled and unskilled, and exogenous government expenditure, financed through taxes on financial assets and on labour income, to analyse the implications of the tax system on R&D intensity, economic growth, wage inequality and consumption share in the output. In particular, we show that: (i) taxes have negative influence in the consumption share, being higher the marginal effect of the labour-income tax; (ii) for any given government expenditure share, an increase (a decrease) in financial-assets tax decreases (increases) the labour-income tax; (iii) only the financial-assets tax affects negatively the R&D intensity and the skill-premium; thus, to reduce the skill-premium the financial-assets tax must increase; (iv) ignoring the effect on wage inequality and on R&D intensity, taxes are substitutes.Repositório Científico do Instituto Politécnico do PortoAfonso, OscarBandeira, Ana M.Magalhães, Manuela2023-01-27T14:48:11Z20172017-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.22/21955eng10.1111/1467-8454.12102metadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-13T13:18:20Zoai:recipp.ipp.pt:10400.22/21955Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:42:03.633899Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share |
title |
Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share |
spellingShingle |
Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share Afonso, Oscar Tax system |
title_short |
Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share |
title_full |
Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share |
title_fullStr |
Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share |
title_full_unstemmed |
Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share |
title_sort |
Effect of the Tax System ON R&D Intensity, Growth, Wages and Consumption Share |
author |
Afonso, Oscar |
author_facet |
Afonso, Oscar Bandeira, Ana M. Magalhães, Manuela |
author_role |
author |
author2 |
Bandeira, Ana M. Magalhães, Manuela |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Repositório Científico do Instituto Politécnico do Porto |
dc.contributor.author.fl_str_mv |
Afonso, Oscar Bandeira, Ana M. Magalhães, Manuela |
dc.subject.por.fl_str_mv |
Tax system |
topic |
Tax system |
description |
We propose a general equilibrium knowledge-driven (semi-)endogenous-growth model with horizontal R&D, which is extended to consider two types of labour, skilled and unskilled, and exogenous government expenditure, financed through taxes on financial assets and on labour income, to analyse the implications of the tax system on R&D intensity, economic growth, wage inequality and consumption share in the output. In particular, we show that: (i) taxes have negative influence in the consumption share, being higher the marginal effect of the labour-income tax; (ii) for any given government expenditure share, an increase (a decrease) in financial-assets tax decreases (increases) the labour-income tax; (iii) only the financial-assets tax affects negatively the R&D intensity and the skill-premium; thus, to reduce the skill-premium the financial-assets tax must increase; (iv) ignoring the effect on wage inequality and on R&D intensity, taxes are substitutes. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017 2017-01-01T00:00:00Z 2023-01-27T14:48:11Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.22/21955 |
url |
http://hdl.handle.net/10400.22/21955 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1111/1467-8454.12102 |
dc.rights.driver.fl_str_mv |
metadata only access info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
metadata only access |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799131507146620928 |