@article{656091994245447aa94a73b9b645e5d5,
title = "The effect of the consumption tax on economic growth and welfare with money and endogenous fertility",
abstract = "In this study, we examine the effect of consumption tax on the growth rate and welfare in a model with money and endogenous fertility. First, we show that an increase in consumption tax always reduces the economic growth rate but has an ambiguous effect on welfare. We show a numerical example based on Japanese data and demonstrate the likelihood that increasing the consumption tax decreases welfare. We also compare the effects of consumption tax financing and monetary financing on growth rate and welfare.",
keywords = "Consumption tax, Endogenous fertility, Endogenous growth, Money-in-the-utility-function model",
author = "Akihiko Kaneko and Daisuke Matsuzaki",
note = "Funding Information: The authors wish to thank the participants of the 25th Pacific Conference of the RSAI in Taiwan. This work was supported in part by a Waseda University Grant for Special Research Projects [No. 2017K-012] (Akihiko Kaneko); JSPS KAKENHI Grant Numbers No. JP17K03727 (Akihiko Kaneko), and No. JP16K03664 (Daisuke Matsuzaki). The authors are solely responsible for any errors. Publisher Copyright: {\textcopyright} 2018, Seoul National University,Institute of Economic Research.",
year = "2018",
language = "English",
volume = "31",
pages = "355--375",
journal = "Seoul Journal of Economics",
issn = "1225-0279",
publisher = "Seoul National University",
number = "4",
}
