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International Fiscal Policy Coordination and GDP Comovement
Sly, Nicholas; Weber, Caroline - CESifo - 2013
Economic shocks often permeate borders generating comovement in nations’ business cycles over time. We highlight the fact that fiscal policy coordination is an important avenue by which national economies become more integrated, influencing the transmission of macroeconomic shocks between...
Persistent link: https://www.econbiz.de/10010690374
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Search Costs and Corporate Income Tax Competition
Konrad, Kai A. - CESifo - 2010
This paper studies corporate tax competition if it is costly to learn some of the elements that determine the effective tax burden. Search cost may, but need not, eliminate the tax competition pressure. The outcome depends on the boundaries of tax rate and tax base choices. Search cost can...
Persistent link: https://www.econbiz.de/10008727307
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Discretionary Fiscal Policy: Review and Estimates for the EU
Beetsma, Roel; Giuliodori, Massimo - CESifo - 2010
We briefly review the theoretical and empirical consequences of discretionary fiscal policy changes, after which we provide our own estimates for the EU countries. A fiscal expansion raises output and consumption and reduces the trade balance. Moreover, the stimulating effect of higher...
Persistent link: https://www.econbiz.de/10008534042
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Cross-Border Effects of Fiscal Consolidations: Estimates Based on Narrative Records
Hebous, Shafik; Zimmermann, Tom - CESifo - 2013
We estimate cross-border spillover effects of fiscal consolidation episodes on output, bilateral trade flows, interest rate, and the exchange rate, employing the new IMF action-based fiscal consolidation data. Results indicate a negative effect of foreign fiscal consolidation policies on...
Persistent link: https://www.econbiz.de/10010674455
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Estimating the Effects of Coordinated Fiscal Actions in the Euro Area
Hebous, Shafik; Zimmermann, Tom - CESifo - 2012
We estimate spillover effects of a fiscal shock in one member country in the euro area on outputs of the rest of the members, using a Global Vector Autoregression (GVAR) model. We compare the effects of a domestic fiscal shock with those of a similar size area-wide shock expressed as a weighted...
Persistent link: https://www.econbiz.de/10010568610
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The Impact of Globalization on the Composition of Government Expenditures: Evidence from Panel Data
Dreher, Axel; Sturm, Jan-Egbert; Ursprung, Heinrich - CESifo - 2006
According to the disciplining hypothesis, globalization restrains governments by inducing increased budgetary pressure … globalization (“compensation hypothesis”). Employing two different datasets and various measures of globalization, we analyze … whether globalization has indeed influenced the composition of government expenditures. For a sample of 108 countries, we …
Persistent link: https://www.econbiz.de/10005766280
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Climate Policies: A Burden or a Gain?
Bréchet, Thierry; Tulkens, Henry - CESifo - 2013
That climate policies are costly is evident and therefore often creates major fears. But the alternative (no action) also has a cost. Mitigation costs and damages incurred depend on what the climate policies are; moreover, they are substitutes. This brings climate policies naturally in the realm...
Persistent link: https://www.econbiz.de/10010627557
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Tax-Co-ordination in Europe: Assessing the First Years of the EU-Savings Taxation Directive
Hemmelgarn, Thomas; Nicodème, Gaëtan J.A. - CESifo - 2009
This paper reviews the economic effects of the EU Savings Taxation Directive. The Directive aims at enabling taxation of foreign interest payments received by individuals in accordance with the rules of their State of residence. The data suggest that the Directive, which is based on automatic...
Persistent link: https://www.econbiz.de/10005029258
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Fighting Multiple Tax Havens
Elsayyad, May; Konrad, Kai A. - CESifo - 2010
This paper develops a competition theory framework that evaluates an important aspect of the OECD’s Harmful Tax Practices Initiative against tax havens. We show that the sequential nature of the process is harmful and more costly than a “big bang” multilateral agreement. The sequentiality...
Persistent link: https://www.econbiz.de/10008671702
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Developing Country Second-Mover Advantage in Competition over Environmental Standards and Taxes
Groenert, Valeska; Zissimos, Benjamin - CESifo - 2011
We show that, in competition between a developed country and a developing country over environmental standards and taxes, the developing country may have a ‘second-mover advantage.’ In our model, firms do not unanimously prefer lower environmental-standard levels. We introduce this feature...
Persistent link: https://www.econbiz.de/10009395306