This item may be available elsewhere in EconPapers: Search for items with the same title.Molnupiravir (marketed as Lagevrio) is an antiviral drug, slightly modified from a compound known as NHC (β- d-N 4-hydroxycytidine) that a team at Emory University in Atlanta, Georgia, first described in 2003. Journal Article: Debt in the US economy (2017) References: View references in EconPapers View complete reference list from CitEc New Economics Papers: this item is included in nep-dge, nep-mac and nep-pbe JEL-codes: E27 E62 H68 (search for similar items in EconPapers) Keywords: Tax distortion Dynamic Laffer Curve Debt-to-GNP Ratio. Such high tax rates, however, result in about 10% lower per capita GNP and large welfare costs at the steady state compared to the historical tax rates. We also find that labor income tax rates higher than 40% are needed for the deficit-to-GNP ratio to return to its historical level in the long run. Our results show that debt-to-GNP ratios above 100% are likely to continue into the future and that even small labor supply elasticities have a significant impact on these projections. While this framework is relatively simple, it incorporates the general equilibrium effects of tax policy, which are often missing from the Congressional Budget Office projections. In this paper, we use the standard neoclassical growth model to examine the future path of output, budget deficits, and debt in the U.S. Many proposals to curb the government deficit and the resulting debt are being discussed. In 2011, the publicly held debt-to-GDP ratio in the United States reached 68% and is expected to continue rising. Koç University-TUSIAD Economic Research Forum Working Papers from Koc University-TUSIAD Economic Research Forum Kaiji Chenz: Department of Economics, Emory University, Atlanta
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