This paper highlights key issues pertinent for the understanding of international effects of domestic tax policies and … of international tax harmonization. The analytical framework adopts the saving-investment balance approach to the … analysis of international economic interdependence focusing on income, consumption, and international borrowing. A simulation …

-looking monetary policy decisions. The bias is higher for countries whose monetary policy was more independent of Germany … rates on real output growth for several European countries, using German interest rates as the instrument. We show that the … growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest …

This paper examines external adjustment in the U.S., Japan and Germany from the perspective of net foreign asset … each of the G-3 countries, it is a function of demographic variables and public debt. Second, deviations from the long …-run equilibrium give rise to disequilibrium feedback through domestic absorption and through other channels …

Central government wage expenditures accounted for 7 percent of GDP in 99 countries during 1980-90 (unweighted average … countries, and small low-income economies tend to have lower central government wage expenditures as a percent of GDP. Access to …). Regression analysis indicates that federations, countries with high populations and high per capita incomes, heavily indebted …

countries and Denmark. Using a newly constructed database on primary market debt issuance during 2007-09, we find evidence of a …This paper documents and analyzes crisis-related changes in government debt issuance practices in the 16 euro zone …, long maturity and local currency denomination (DLTF). Exploiting the cross-country panel data dimension of the data, we …

This paper analyzes the choice between public debt denominated in domestic currency and foreign currency in the context … of public debt management theories. It discusses the experience of Belgium, Denmark, Ireland, Italy, New Zealand and …

French economy. The simulation results indicate that targeted reductions in employer social security taxes have six times as …

The paper describes the evolution of the corporate stock and bond markets in Korea and the Government’s role in this … evolution and its policy with regard to internationalization of the capital market. The paper analyzes problems encountered in … global income tax in Korea …

The effects on growth of the integration of an autarkic country into the world economy are analyzed, focusing on the … differing roles of imitation and innovation in human capital accumulation. The country initially concentrates on imitation of … growth and welfare for the country that imposes them …

fiscal policy influences financial variables, and that growing internationalization has increased the sensitivity of … financial conditions to fiscal policy. The core of the argument is that fiscal policy influences exchange rates, particularly to … the extent that it affects the expected after-tax returns on capital located in different countries, and that the …