Economics, Econometrics and Finance
4 years ago

Tax benefits speed up economic growth, boosting welfare effects of fiscal policy.

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Southern Economic Journal
Taxes, the Speed of Convergence, and Implications for Welfare Effects of Fiscal Policy
Benjamin Russo

Paper Summary

Income taxes can impact how quickly economies grow, contrary to previous beliefs. By considering tax benefits in economic models, researchers found that taxes can affect the speed at which economies converge. Even small changes in taxes can have significant effects on economic welfare.

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