Taux d'actualisation public, distorsions fiscales et croissance endogène

Christophe Hurlin and Franck Portier ()

Annals of Economics and Statistics, 1999, issue 54, 173-201

Abstract: We propose in this paper an analytical endogenous growth model with public capital and distortionary taxation. We derive what should be the social discount rate that maximizes welfare or growth, with or without constraint on the maximal amount of fiscal revenues that can be raised by lump sum taxation. We are able to derive a growth wedge and a fiscal wedge in the suboptimal level of the social discount rate. A calibrated example for the French economy is then proposed and the dynamics following the adoption of a second best policy is studied.

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1999:i:54:p:173-201

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