Taxation, bubbles and endogenous growth

Stefano Bosi () and Ngoc-Sang Pham
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Stefano Bosi: EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne

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Abstract: We study the interplay between taxation, bubble formation and economic growth. A rational bubble may be beneficial when growth is fueled 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). © 2016 Elsevier B.V.

Keywords: Endogenous growth; Public R&D; Taxation on financial revenue (search for similar items in EconPapers)
Date: 2016-06
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Published in Economics Letters, 2016, 143, pp.73-76. ⟨10.1016/j.econlet.2016.03.018⟩

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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:hal:journl:hal-02877962

DOI: 10.1016/j.econlet.2016.03.018

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