Journal ArticleDOI
The Laffer curve revisited
TLDR
In this article, the authors compared the Laffer curve for the US, the EU-14 and individual European countries using a neoclassical growth model featuring constant Frisch elasticity (CFE) preferences.About:
This article is published in Journal of Monetary Economics.The article was published on 2011-05-01. It has received 447 citations till now. The article focuses on the topics: Laffer curve & Tax rate.read more
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Beyond GDP? Welfare Across Countries and Time
TL;DR: The authors proposed a summary statistic for the economic well-being of people in a country, which incorporates consumption, leisure, mortality, and inequality, first for a narrow set of countries using detailed micro data, and then more broadly using multi-country data sets.
Journal ArticleDOI
Some Fiscal Calculus
TL;DR: In this paper, the authors calculate the multiplier of government spending and tax cuts in a baseline neo classical growth model with endogenous labor supply and fiscal policy, allowing for govern ment spending transfers, government debt and distortionary taxes on labor and capital income.
Journal ArticleDOI
Measuring intertemporal substitution: the importance of method choices and selective reporting
TL;DR: The authors examined 2,735 estimates of the elasticity of intertemporal substitution in consumption (EIS) reported in 169 published studies and found that the reporting bias dwarfs the effects of methods, with the exception of the choice between micro and macro data.
Journal ArticleDOI
Cross-Country Heterogeneity in Intertemporal Substitution
TL;DR: In this paper, the authors collected 2,735 estimates of the elasticity of intertemporal substitution in consumption from 169 published studies that cover 104 countries during different time periods.
Journal ArticleDOI
Beyond GDP? Welfare across Countries and Time
Charles I. Jones,Peter J. Klenow +1 more
TL;DR: This paper proposed a simple summary statistic for a nation's flow of welfare, measured as a consumption equivalent, and computed its level and growth rate for a broad set of countries, based on data on consumption, leisure, inequality, and mortality.
References
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The mechanics of economic development
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
Journal ArticleDOI
On the mechanics of economic development
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.
Posted Content
A sensitivity analysis of cross-country growth regressions
Robert A. Levine,David Renelt +1 more
TL;DR: In this article, the authors study whether the conclusions from existing studies are robust or fragile when small changes in the list of independent variables occur, and they find that although "policy"appears to be importantly related to growth, there is no strong independent relationship between growth and almost every existing policy indicator.
Posted Content
A sensitivity analysis of cross-country growth regressions
Robert A. Levine,David Renelt +1 more
TL;DR: The authors examined whether the conclusions from existing studies are robust or fragile to small changes in the conditioning information set and found a positive, robust correlation between growth and the share of investment in GDP and between investment share and the ratio of international trade to GDP.
Book
Introduction to modern economic growth
TL;DR: In this paper, the authors introduce modern economic growth, and introduce the concept of economic growth in the context of modern economic development, and propose a new economic growth model, which they call the "Internet of Modern Economic Growth".
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Shocks and frictions in US business cycles: A Bayesian DSGE approach
Frank Smets,Rafael Wouters +1 more