Taxation, bubbles and endogenous growth
Stefano Bosi () and
Ngoc-Sang Pham ()
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Stefano Bosi: EPEE (University of Evry)
No 16-03, Documents de recherche from Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne
We study the interplay between taxation, bubble formation and eco- nomic growth. A rational bubble may be beneficial when growth is fu- elled by public investment (or R&D externalities) and the government levies taxes on bubble returns to finance this investment. Our main result challenges the conventional view about the negative effect of bubbles in endogenous growth (Grossman and Yanagawa, 1993).
Keywords: taxation on financial revenue; public R&D; endogenous growth (search for similar items in EconPapers)
JEL-codes: E44 H23 O30 (search for similar items in EconPapers)
Pages: 10 pages
New Economics Papers: this item is included in nep-fdg, nep-gro, nep-mac, nep-pbe and nep-pub
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Journal Article: Taxation, bubbles and endogenous growth (2016)
Working Paper: Taxation, bubbles and endogenous growth (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:eve:wpaper:16-03
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