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Title: Optimal Composition of Government Public Capital Financing
Authors: 洪福聲
Hung, Fu-Sheng
Contributors: 經濟系
Keywords: Infrastructure;Public capital;Income taxation;Seigniorage;Economic growth
Date: 2005-12
Issue Date: 2018-11-21 16:17:48 (UTC+8)
Abstract: 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.
Relation: Journal of Macroeconomics,Volume 27, Issue 4, Pages 704-723
Data Type: article
Appears in Collections:[經濟學系] 期刊論文

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