banks, a financial transactions tax contributes to financial distress and undoes other policy measures that are used to …This paper studies the impact of a financial transactions tax on a financial market where financial institutions trade …. There are two main results: First, if all banks have enough liquidity so that they can honor their short-term obligations, a …

analysis of tax systems. In addressing this task I ask, and offer some tentative answers to, what is distinctive about … behavioral tax economics as a sub-field of behavioral economics and as a sub-field of tax economics …

We analyze the competition in bonus taxation when banks compensate their managers by means of fixed and incentive pay … and bankers are internationally mobile. Banks choose bonus payments that induce excessive managerial risk-taking to … positive tax revenue or inflict net fiscal losses on taxpayers as a result of incentive pay. A ‘race to the top' becomes more …

We study the efficiency of banking regulation under financial integration. Banks freely choose the jurisdiction where … any regulatory contract that satisfies information and participation constraints of banks. We show that the unique Nash … regulators to discriminate between banks with different efficiency levels. This result is driven by the endogenous restriction …

III rules, thus suggesting a ‘race to the top' in capital standards. We study regulatory competition when banks are … pool quality of banks in each country and inflict negative externalities on neighboring jurisdictions by shifting risks to …

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank …, and that their sovereign partially backs up any losses, should the banks not be able to repurchase the bonds. I argue that …

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 explain the empirically observed tax cuts cum base broadening …

This paper argues that the large reduction in corporate tax rates and only gradual widening of tax bases in many … make this point we develop a model in which governments compete for FDI using corporate tax rates and tax bases. The model …'s predictions regarding the slope of policy reaction functions and the response of equilibrium tax parameters to trade costs and …

This paper investigates the effect of fiscal equalization on the efficiency properties of corporate income tax rates … chosen by symmetric countries in a Nash tax competition game under the taxation principles of Separate Accounting and Formula … of tax rates. In contrast to previous studies, tax base equalization (Representative Tax System) does not satisfy this …