TY - JOUR TI - Growth Effects of Income and Consumption Taxes T2 - Journal of Money, Credit, and Banking IS - 4 KW - accumulation of human capital KW - consumption taxation KW - fiscal policy KW - income taxation KW - tax policy KW - бюджетная политика KW - налоговая политика KW - налогообложение потребителей KW - обложение подоходным налогом KW - финансовая политика KW - человеческий капитал AB - The effects of income and consumption taxation are examined in the context of models in which the growth process is driven by the accumulation of human and physical capital. The different channels through which these taxes affect economic growth are discussed, and it is shown that in general the taxation of factor incomes (human and physical capital) is growth-reducing. The effects of consumption taxation on growth depend crucially on the elasticity of labor supply, and therefore on the specification of the leisure activity. The paper also derives implications for the optimal intertemporal choice of tax instruments. AU - Roubini, Nouriel UR - http://ecsocman.hse.ru/text/16388935/ PY - 1998 SP - 721-744 M2 - 721 VL - 30 SN - N1 - LA - EN CY - PB - M3 - LB - VL - ER -