Labour Taxes, Market Size and Productivity Growth
研究了劳动税变化如何影响创新和总生产率增长，发现临时降低劳动税会加速生产率增长，永久提高人均实际GDP路径，且即使没有长期增长效应，这种永久性收益也相当可观。
Abstract How do changes in labour taxes affect innovation and aggregate productivity growth? To answer this question, we propose a quantitative, general equilibrium growth model featuring product and quality innovation with endogenous market structure, estimate its parameters and provide empirical validation for the propagation mechanism of labour tax changes. We find that a temporary cut in flat-rate labour taxes produces a growth acceleration in aggregate productivity, permanently increasing the path of real GDP per capita. Moreover, such permanent gains are sizeable even without long-run growth effects.