of different approaches to fiscal equalization schemes (Boadway and Flatters, 1982, and Weingast, 2006). We show that tax … allocation of capital across the regions and their revenues under a tax sharing scheme. This framework allows for the examination …

We provide theoretical and empirical evidence that policy uncertainty can significantly affect firm level investment … and entry decisions in the context of international trade. When market entry costs are sunk, policy uncertainty can create … dynamic, heterogeneous firms model we show that: (i) investment and entry into export markets is reduced when trade policy is …

elasticity of emissions in OECD countries. China has a higher elasticity than the OECD for a carbon tax lower than 50$ per ton of … would need to introduce a tax equal to about 750$ per ton of CO2-eq in 2050 to achieve the Major Economies Forum goal set …

-urban migration. In this respect, the employment subsidy policy can backfire by raising rather than reducing urban unemployment. …

in yields following the OMT announcement, the high current degree of fragmentation poses difficult challenges for policy …-makers, since it leads to an unequal transmission of the ECB’s monetary policy to the various countries. …