Schäfer, Andreas; Steger, Thomas - In: Research in Economics 67 (2013) 4, pp. 355-367
We aim at a better understanding of the inefficiencies resulting from distributional conflict in small open economies … capital. The overall distributional-conflict inefficiency is decomposed into three components: (i) a fundamental time … unavoidable conflict of interest. A numerical exercise (based on OECD data) indicates that the distributional-conflict …