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Luigi Paganetto - President, Pasquale Lucio Scandizzo - Director "Fiscal Policy Impacts on Growth: An OECD Cross-Country Study with an Emphasis on Human Capital Accumulation" 
CEIS Working Paper No. 217 DIEGO D'ANDRIA, LUISS Guido Carli University
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GIUSEPPE MASTROMATTEO, affiliation not provided to SSRN
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A growing body of literature tests the effects of different tax structures on long-run economic growth. We argue that these tests do not properly account for endogeneity between supposedly independent variables. We run several cross-country ordinary least squares tests with special attention to human capital, and show how education choice behaviors are affected by different tax mixes. The results obtained by microeconomic theory are validated, and they imply that accumulation rates of human capital cannot be deemed independent from savings taxation.
Our results also show that more progressive labor taxation does not appear to be correlated with lower investments in education, contrary to what one would expect from microeconomic theory. We discuss possible implications, and suggest that a likely explanation lies in the outcome of redistribution policies reducing credit constraints of poorer households, thus allowing them easier access to education and, consequently, higher aggregate human capital accumulation. "Welfare Improving Taxation on Savings in a Growth Model"
CEIS Working Paper No. 218 XIN LONG, CEIS, University of Rome "Tor Vergata"
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ALESSANDRA PELLONI, University of Rome II, Department of Economics
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We consider the optimal factor income taxation in a standard R&D model with technical change represented by an increase in the variety of intermediate goods. Redistributing the tax burden from labor to capital will increase the employment rate in equilibrium. This has opposite effects on two distortions in the model, one due to monopoly power, the second to the incomplete appropriability of the benefits of inventions. Their relative momentum determines the sign of the welfare effect. We show that, for parameter values consistent with available estimates, the optimal tax rate on capital will be sizable. "The Role of Parental Cognitive Aging in the Intergenerational Mobility of Cognitive Abilities"
CEIS Working Paper No. 219 VALENTINA CONTI, University of Rome II
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JOANNA KOPINSKA, University of Rome II - Faculty of Economics, University of Rome II - Centre for International Studies on Economic Growth (CEIS)
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This paper studies intergenerational transmission of cognitive abilities from parents to children. We create a measure of parental cognitive evolution across time, which combines cognitive tests scores obtained at the age of 16 with the ones at the age of 50. We are thus able to identify cognitive aging patterns and assess their impact in the intergenerational perspective. The British National Child Development Study (NCDS) allows us to investigate the e
ect of parental cognition on two distinct o
spring's outcomes: cognitive abilities and educational attainment. Our analysis provides novel results concerning the role of parental cognitive transition during adult life. We
nd that children bene
t not only from the stock of cognitive abilities their mothers and fathers hold as adolescents, but also from cognitive evolution their parents achieve as adults. This outcome is signi
cant and robust under various model speci
cations. Finally, we investigate the determinants of parental cognitive transition. We
nd that cognitive aging is attenuated for individuals who undergo multiple job variations, follow on-the-job trainings and engage in leisure activities. This analysis delivers new evidence on the role of policy interventions aimed at fostering cognitive function during adult life, which aside from improving individual outcomes, has positive externalities for the subsequent generations. | | ^top Solicitation of Abstracts To submit your research to SSRN, log in to the SSRN User HeadQuarters, and click on the My Papers link on the left menu, and then click on Start New Submission at the top of the page. Distribution Services If your organization is interested in increasing readership for its research by starting a Research Paper Series, or sponsoring a Subject Matter eJournal, please email:
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Harvard Business School, Social Science Electronic Publishing (SSEP), Inc., National Bureau of Economic Research (NBER), European Corporate Governance Institute (ECGI)
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