タイトル（掲載誌）Discussion Papers In Economics And Business
一般注記In this paper, we explore the impacts of government policies on endogenous fertility and economic growth in a full-fledged framework with private and public spending on both health and education. First, we show that excessive government expenditure on education and insufficient government expenditure on health may lead to zero or even negative economic growth. Second, in our specified model, the income tax rate is shown to have no impact on fertility. Third, we determine the income tax rate and the fraction of revenue used for education expenditure to maximize the balanced growth rate. Furthermore, it is demonstrated that larger public health expenditure on children leads to greater economic growth. Moreover, the welfare-maximizing tax rate and shares of public expenditure allocated to children’s health and education are found to be smaller than the growth-maximizing counterparts. Finally, the welfare-maximizing tax rate exhibits a non-monotonic relationship with social discount factor.
連携機関・データベース国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）