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Genuine saving and the social cost of taxation
Umea Univ, Dept Econ, Umea, Sweden . (Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics)
Umea Univ, Dept Econ, Umea, Sweden .ORCID iD: 0000-0002-9748-9572
Umea Univ, Dept Econ, Umea, Sweden . (Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics)
2012 (English)In: Journal of Public Economics, ISSN 0047-2727, E-ISSN 1879-2316, Vol. 96, no 1-2, 211-217 p.Article in journal (Refereed) Published
Abstract [en]

Following the 1987 report by The World Commission on Environment and Development, the genuine saving has come to play a key role in the context of sustainable development, and the World Bank regularly publishes numbers for genuine saving on a national basis. However, these numbers are typically calculated as if the tax system is non-distortionary. This paper presents an analogue to genuine saving in a second best economy, where the government raises revenue by means of distortionary taxation. We show how the social cost of public debt, which depends on the marginal excess burden, ought to be reflected in the genuine saving. By presenting calculations for Greece, Japan, Portugal, U.K., U.S. and OECD average, we also show that the numbers published by the World Bank are likely to be biased and may even give incorrect information as to whether the economy is locally sustainable.

Place, publisher, year, edition, pages
Elsevier, 2012. Vol. 96, no 1-2, 211-217 p.
Keyword [en]
Welfare change; Investment; Saving; Taxation
National Category
Economics
Identifiers
URN: urn:nbn:se:du-15075DOI: 10.1016/j.jpubeco.2011.10.002ISI: 000299497900018OAI: oai:DiVA.org:du-15075DiVA: diva2:741402
Available from: 2014-08-28 Created: 2014-08-28 Last updated: 2015-11-19Bibliographically approved

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CiteExportLink to record
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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • chicago-author-date
  • chicago-note-bibliography
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf