Impact of the Tax System on Productivity and Economic Growth PDF Download

Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Oversight of the Internal Revenue Service
Publisher:
ISBN:
Category : Capital productivity
Languages : en
Pages : 266

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Author: Stanley W. Black
Publisher: Springer Science & Business Media
ISBN: 9400924941
Category : Business & Economics
Languages : en
Pages : 164

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swollen with deutschemarks and yen newly created to purchase unwanted dollars from the markets. When the Bundesbank and the Bank of Japan began to raise their interest rates to slow domestic monetary expansion, the fabric of international monetary cooperation began to unravel. Amid charge and counter-charge by disgruntled fmance ministers, the dollar dropped further and interest rates jumped upward, leading to panic in the stock market on Black Monday. Fortunately, a steady hand and generous supply of credit from the Federal Reserve System prevented massive bankruptcies among Wall Street brokerage houses and a collapse of the credit system. But the world-wide reverberations of the Wall Street crash exposed the underlying weaknesses of an economy based on foreign borrowing for all to see. Furthermore, the banking system is saddled with mountains of bad debts from the Third World and depressed parts of the American economy. A new Administration entering office in 1989 must deal with these problems, among others. Businesses and state and local governments need to know whether to focus their efforts on tax policy, investment, and improvements in education and worker training, or lobbying for protection from imports. The papers in this volume were chosen to explain the causes of present competitive problems in American industry and the factors that can lead to their gradual solution.

Author: United States. Congress. Joint Economic Committee. Subcommittee on Trade, Productivity, and Economic Growth
Publisher:
ISBN:
Category : Capital productivity
Languages : en
Pages : 54

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Author: OECD
Publisher: OECD Publishing
ISBN: 9264091084
Category :
Languages : en
Pages : 157

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This report investigates how tax structures can best be designed to support GDP per capita growth.

Author: Steven Peter Cassou
Publisher:
ISBN:
Category : Labor productivity
Languages : en
Pages : 22

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Author: Barry Bosworth
Publisher: Brookings Institution Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 232

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In this study the author attempts to clarify the basic analytic issues about incentives and to summarize the empirical evidence, and examines the difficulties of coordinating tax incentive measures with fiscal and monetary policies.

Author: Ralph Landau
Publisher: Pergamon
ISBN:
Category : Business & Economics
Languages : en
Pages : 304

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Author: Karen E. Dynan
Publisher:
ISBN:
Category :
Languages : en
Pages : 16

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This paper considers the implications of a sustained period of low productivity growth for the design of tax systems. While the specific changes needed will vary by country and depend on how other features of the economic environment change, several broad conclusions emerge. First, lower productivity growth will exacerbate future fiscal shortfalls associated with aging populations; even assuming that interest rates are also lower, tax systems may need to collect more revenue per dollar of GDP to support their older populations. Second, with lower productivity growth likely to result in lower wages, labor force participation rates may drop further, bolstering the case for more tax incentives for working. Third, the potentially flatter lifetime income profiles associated with lower productivity growth, along with the possibility that fiscal strains will lead to cuts in government retirement benefits, may warrant increasing tax incentives for retirement saving. Finally, the lower real interest rates that would likely accompany sustained low productivity growth may reduce the future efficacy of monetary policy as a macroeconomic stabilization tool, suggesting that countries would be well-served by building more automatic stabilizers into their tax systems.

Author: Adam S. Posen
Publisher: Peterson Institute for International Economics
ISBN: 0881327328
Category : Business & Economics
Languages : en
Pages : 499

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Labor productivity growth in the United States and other advanced countries has slowed dramatically since the mid-2000s, a major factor in their economic stagnation and political turmoil. Economists have been debating the causes of the slowdown and possible remedies for some years. Unaddressed in this discussion is what happens if the slowdown is not reversed. In this volume, a dozen renowned scholars analyze the impact of sustained lower productivity growth on public finances, social protection, trade, capital flows, wages, inequality, and, ultimately, politics in the advanced industrial world. They conclude that slow productivity growth could lead to unpredictable and possibly dangerous new problems, aggravating inequality and increasing concentration of market power. Facing Up to Low Productivity Growth also proposes ways that countries can cope with these consequences.

Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Oversight of the Internal Revenue Service
Publisher:
ISBN:
Category : Capital productivity
Languages : en
Pages : 218

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