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Factor Income Taxation in a Horizontal Innovation Model

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Abstract
We consider the optimal factor income taxation in a standard R&D model with technical change represented by an increase in the variety of intermediate goods. Redistributing the tax burden from labor to capital will in most cases increase the employment rate in equilibrium. This has opposite effects on two distortions in the model, one due to monopoly power, the second to the incomplete appropriability of the benefits of inventions. Their relative momentum determines the sign of the welfare effect of the redistribution. We show that, for parameter values consistent with available estimates, the optimal tax rate on capital will be sizable.

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  • Xin Long & Alessandra Pelloni, 2013. "Factor Income Taxation in a Horizontal Innovation Model," CEIS Research Paper 273, Tor Vergata University, CEIS, revised 19 Apr 2013.
    • Handle: RePEc:rtv:ceisrp:273
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    Cited by:

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    2. HIRAGUCHI Ryoji, 2021. "Optimal Wealth Taxation in the Schumpeterian Growth Model with Unemployment," Discussion papers 21056, Research Institute of Economy, Trade and Industry (RIETI).
    3. Guo, Lu & Yan, Chong, 2021. "Optimal Taxation in the Endogenous Growth Framework with the Private Information," MPRA Paper 109548, University Library of Munich, Germany.
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    More about this item

    Keywords

    Capital Income Taxes; R&D; Growth Effect; Welfare Effect.;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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