Nonlinear Effects of Taxation on Growth
构建了一个与两个观察事实一致的模型：各国税率与增长表现通常不相关，但大幅削弱私人投资激励的税率会严重损害增长。模型显示税收对增长的影响高度非线性，低税率影响很小，高税率负面影响急剧增大。
We propose a model consistent with two observations. First, the tax rates adopted by different countries are generally uncorrelated with their growth performance. Second, countries that drastically reduce private incentives to invest severely hurt their growth performance. In our model, the effects of taxation on growth are highly nonlinear. Low tax rates have a very small impact on long-run growth rates. But as tax rates rise, their negative impact on growth rises dramatically. The median voter chooses tax rates that have a small impact on growth prospects, making the relation between tax rates and economic growth difficult to measure empirically.