Welfare Effects of Capital Income Tax Reform in a Growing World Economy

Michael Keen

Public Finance = Finances publiques, 1990, vol. 45, issue 2, 283-303

Abstract: Capital income taxes are liable to affect both capital accumulation and performance in world product markets. International comparisons of effective marginal rates of capital income taxation have consequently come to attract considerable policy interest. This paper develops some principles for the welfare analysis of capital income tax reforms in a growing world economy. Desirable directions of reform (in terms of steady state welfare) are characterized and two policy issues touched upon: the case for capital income tax harmonization in the European Community and the possible consequences of measures that increase the cost of capital in Japan.

Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pfi:pubfin:v:45:y:1990:i:2:p:283-303

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