dc.contributor.author |
Bania, Neil |
|
dc.contributor.author |
Stone, Joe A. |
|
dc.date.accessioned |
2009-01-15T17:36:30Z |
|
dc.date.available |
2009-01-15T17:36:30Z |
|
dc.date.issued |
2007-06 |
|
dc.identifier.uri |
http://hdl.handle.net/1794/8306 |
|
dc.description |
30 p. |
en |
dc.description.abstract |
This paper offers unique rankings of the extent to which fiscal structures of U.S. states
contribute to economic growth. The rankings are novel in two key respects: they are well
grounded in established growth theory, in which the effect of taxes depends both on the level of
taxes and on the composition of expenditures; and they are derived from actual estimates of the
link between fiscal structures and economic growth. Estimates for the latter yield a growth hill,
in which the incremental effect of taxes spent on productive services and infrastructure initially
rises, reaches a peak, and then declines. Rankings derived from these estimates differ sharply
from typical rankings based on levels of taxation alone. Two hypothetical policy experiments
highlight both the growth-hill effects of tax investments in productive services and infrastructure
and the short- and long-term tradeoffs in attempting to fund strong social services. |
en |
dc.language.iso |
en_US |
en |
dc.publisher |
University of Oregon, Dept of Economics |
en |
dc.relation.ispartofseries |
University of Oregon Economics Department Working Papers;2008-6 |
|
dc.subject |
Tax investments |
en |
dc.subject |
Fiscal structures |
en |
dc.subject |
Economic growth |
en |
dc.subject |
Growth theory |
en |
dc.title |
Ranking State Fiscal Structures using Theory and Evidence |
en |
dc.type |
Working Paper |
en |