Kerim Arin, Emin Gahramanov, Tolga Omay, Mehmet Ulubasoglu
{"title":"A tale of two taxes: <scp>State‐dependency</scp> of tax policy","authors":"Kerim Arin, Emin Gahramanov, Tolga Omay, Mehmet Ulubasoglu","doi":"10.1111/sjpe.12360","DOIUrl":null,"url":null,"abstract":"Abstract In this paper, we build a simple endogenous growth model with labour and corporate taxes to investigate the asymmetric effects of tax policy over the growth trajectory. We employ a newly developed panel smooth transition model to empirically analyse a sample of 19 advanced economies over the 1961–2017 period. We find that both the asymmetric effects and the tax measures used are essential. We also find that the effects of corporate and personal taxes on long‐run growth are non‐linear, while the detrimental effects of personal taxes are empirically larger compared to those of corporate taxes once non‐linearities are controlled for.","PeriodicalId":47171,"journal":{"name":"Scottish Journal of Political Economy","volume":"25 1","pages":"0"},"PeriodicalIF":0.9000,"publicationDate":"2023-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Scottish Journal of Political Economy","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1111/sjpe.12360","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
Abstract In this paper, we build a simple endogenous growth model with labour and corporate taxes to investigate the asymmetric effects of tax policy over the growth trajectory. We employ a newly developed panel smooth transition model to empirically analyse a sample of 19 advanced economies over the 1961–2017 period. We find that both the asymmetric effects and the tax measures used are essential. We also find that the effects of corporate and personal taxes on long‐run growth are non‐linear, while the detrimental effects of personal taxes are empirically larger compared to those of corporate taxes once non‐linearities are controlled for.
期刊介绍：
The Scottish Journal of Political Economy is a generalist journal with an explicitly international reach in both readership and authorship. It is dedicated to publishing the highest quality research in any field of economics, without prejudice to the methodology or to the analytical techniques used. The editors encourage submissions in all fields of economics in order to provide practical contributions to the literature, and to further the influence of economics in the world of practical affairs.
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