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Commodity Tax Harmonization with Public Goods - An Alternative Perspective

Lockwood, Ben - C.E.P.R. Discussion Papers - 1995

This paper investigates whether it is possible to find Pareto-improving commodity tax reforms that harmonize taxes between two countries when governments supply public goods and thus have revenue requirements. To focus on the basic issues, we consider a Ricardian model of trade with elastic...

Persistent link: https://www.econbiz.de/10005067400

Foreign Influence and Welfare

Antràs, Pol; Padró i Miquel, Gerard - C.E.P.R. Discussion Papers - 2008

How do foreign interests influence the policy determination process? What are the welfare implications of such foreign influence? In this paper we develop a model of foreign influence and apply it to the study of optimal tariffs. We develop a two-country voting model of electoral competition,...

Persistent link: https://www.econbiz.de/10005661468

How to Win a Decision in a Confederation

Jehiel, Philippe; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 2002

This Paper deals with collective decision making within a group of independent jurisdictions. The right to choose the public policy is delegated from the central authority of one of the jurisdictions through a bidding procedure among the group members. We identify the following trade-off:...

Persistent link: https://www.econbiz.de/10005661614

Self-enforcing Norms and the Efficient Non-cooperative Organization of Clans

Konrad, Kai A.; Leininger, Wolfgang - C.E.P.R. Discussion Papers - 2007

We study how norms can solve distributional conflict inside a clan and the efficient coordination of collective action in a conflict with an external enemy. We characterize a fully non-cooperative equilibrium in a finite game in which a self-enforcing norm coordinates the members on efficient...

Persistent link: https://www.econbiz.de/10005656134

The `Walters' Critique of the EMS: A Case of Inconsistent Expectations

Miller, Marcus; Sutherland, Alan - C.E.P.R. Discussion Papers - 1990

Alan Walters has suggested that the European Monetary System will prove dynamically unstable when capital controls are removed. The argument is analysed within a model that includes overlapping contracts. It is found that the short-run effects predicted by Walters only arise when the credibility...

Persistent link: https://www.econbiz.de/10005504500

Robust Learning Stability with Operational Monetary Policy Rules

Evans, George W.; Honkapohja, Seppo - C.E.P.R. Discussion Papers - 2008

We consider "robust stability" of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … Honkapohja (2003, 2006) deliver robust learning stability. In contrast, many proposed alternatives become unstable under learning …

Persistent link: https://www.econbiz.de/10005498187

UK Phillips Curves and Monetary Policy

Haldane, Andrew; Quah, Danny - C.E.P.R. Discussion Papers - 1999

This paper documents some stylized facts on evolving UK Phillips curves, and shows how these differ from their US versions. We interpret UK Phillips curve dynamics in a positive theory of monetary policy - how policy-maker attitudes on the Phillips curve have evolved since the 1950s - rather...

Persistent link: https://www.econbiz.de/10005067633