Service Good as an Intermediate Input and Optimal Government Policy in an Endogenous Growth Model

IF 0.3 Q4 ECONOMICS

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2019-04-30 DOI:10.1177/2277978719837043

Senjuti Gupta, Bidisha Chakraborty, T. Chatterjee

引用次数: 1

Abstract

The present article considers an endogenous growth model in which the service output is used as intermediate good in commodity sector, tax is imposed on manufacturing product and the revenue earned is invested to create human capital. It is shown that there exists a unique, saddle path stable steady-state growth rate of human capital accumulation and a unique growth-maximizing tax rate. The optimal tax rate for the command economy is compared with growth-maximizing tax rate in competitive economy. A numerical analysis shows that the command economy will have a higher growth rate than the competitive economy. An extension of the model where households privately spend for accumulation of human capital yields the same growth rate as that of the command economy of the previous model. JEL Classification: E6, H2, O4

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内生增长模型中的服务产品作为中间投入与最优政府政策

本文考虑了一种内生增长模型，该模型将服务产出作为商品部门的中间产品，对制造产品征税，并将所得收入用于创造人力资本。结果表明，我国人力资本积累存在唯一的鞍形路径、稳定的稳态增长率和唯一的增长最大化税率。将计划经济下的最优税率与竞争经济下的增长最大化税率进行了比较。数值分析表明，计划经济将比竞争经济具有更高的增长率。在家庭为积累人力资本而进行私人支出的模型的扩展中，其增长率与前一模型的计划经济的增长率相同。JEL分类:E6, H2, O4

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

South Asian Journal of Macroeconomics and Public Finance ECONOMICS-

CiteScore

2.10

自引率

11.10%

发文量

期刊介绍： The purpose of the Journal is to publish (in English language) peer-reviewed articles, reviews and scholarly comments on issues relating to contemporary global macroeconomics and public finance by which is understood: The Journal is for all professionals concerned with contemporary Macroeconomics and Public Finance and is a forum for all views on related subjects. The Editorial Board welcomes articles of current interest on research and application on the areas mentioned above. The Journal will be international in the sense that it seeks research papers from authors with an international reputation and articles that are of interest to an international audience. In pursuit of the above, the journal shall: a. draw on and include high quality work from the international community of scholars including those in the major countries of Asia, Europe, Asia Pacific, the United States, other parts of the Americas and elsewhere with due representation for considerations of the readership. The Journal shall include work representing the major areas of interest in contemporary research on Macroeconomics and Public Finance and on a wide range of issues covering macro- economics, tax and fiscal issues, banking and finance, international trade, labour economics, computational and mathematical methods, etc. The Journal would particularly engage papers on pure and applied economic theory and econometric methods. b. avoid bias in favour of the interests of particular schools or directions of research or particular political or narrow disciplinary objectives to the exclusion of others. c. ensure that articles are written in a terminology and style which makes them intelligible, not merely within the context of a particular discipline or abstract mode, but across the domain of relevant disciplines.