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Trade costs, trade balances and current accounts : an application of gravity to multilateral trade

Fazio, Giorgio (contributor); MacDonald, Ronald (contributor) - 2005

In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with...

Persistent link: https://www.econbiz.de/10003120614

Globalisation and the mix of wage and profit taxes

Haufler, Andreas (contributor); Klemm, Alexander (contributor) - 2006

This paper analyses the development of the ratio of corporate taxes to wage taxes using a simple political economy model with internationally mobile and immobile firms. Among other results, our model predicts that countries reduce their corporate tax rate, relative to the wage tax, either when...

Persistent link: https://www.econbiz.de/10003301170

Output smoothing in EMU and OECD : can we forego government contribution? : a risk sharing approach

Marinheiro, Carlos Fonseca - 2003

This paper analyses the smoothing of asymmetric shocks to output for a sample of OECD countries. It also examines whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in the near future. The research finds no evidence of large...

Persistent link: https://www.econbiz.de/10011509508

Optimal tax policy when firms are internationally mobile

Becker, Johannes (contributor); Fuest, Clemens (contributor) - 2005

The standard tax theory result that investment should not be distorted is based on the assumption that profits are locally bound. In this paper we analyze the optimal tax policy when firms are internationally mobile. We show that the optimal policy response to increasing firm mobility may be...

Persistent link: https://www.econbiz.de/10003203523

Economic liberalization and savings rates

Mansori, Kashif S. - 2001

, capital controls, and other government distortions of international transactions, may reduce private savings rates. A two … that there is a significant and robust relationship between economic liberalization and lower rates of savings. One … implication is that at least part of the decline in savings rates in some countries over the past two decades may be explained by …

Persistent link: https://www.econbiz.de/10011397942

Household saving rates and the design of social security programmes : evidence from a country panel

Disney, Richard (contributor) - 2005

argue that the offsetting effect of social security contributions on household retirement saving depends on how closely the social security programme imitates a private retirement saving plan (i.e. the ‘actuarial’ component of the social security programme) the closer the design of the...

Persistent link: https://www.econbiz.de/10003121065

The globalization paradox revisited

Schwerhoff, Gregor; Edenhofer, Ottmar - 2014

According to the Globalization Paradox, globalization limits the freedom of choice for national governments. Capital mobility in particular induces tax competition, thus putting downward pressure on capital taxes. However, while capital mobility introduces the inefficiency of tax competition, it...

Persistent link: https://www.econbiz.de/10010375314

International investment positions and exchange rate dynamics : a dynamic panel analysis

Binder, Michael (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003599280

Monetary policy, vagabonding liquidity and bursting bubbles in new and emerging markets : an overinvestment view

Schnabl, Gunther (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003599390

Human capital and the Feldstein-Horioka puzzle

Katsimē, Margarita (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003495703

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