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    題名: Optimal Composition of Government Public Capital Financing
    作者: 洪福聲
    Hung, Fu-Sheng
    貢獻者: 經濟系
    關鍵詞: Infrastructure;Public capital;Income taxation;Seigniorage;Economic growth
    日期: 2005-12
    上傳時間: 2018-11-21 16:17:48 (UTC+8)
    摘要: Most recent studies on growth models with public investment in infrastructure (public capital) presume that public capital is financed by income taxation. However, in the model where money is demanded for transactions, this paper finds that optimal public capital financing in general involves utilizing both income taxation and seigniorage. In such a case, the optimal income tax rate is less than the output elasticity of public capital, a reasonable result compared with empirical evidence.
    關聯: Journal of Macroeconomics,Volume 27, Issue 4, Pages 704-723
    資料類型: article
    顯示於類別:[經濟學系] 期刊論文

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