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,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada's recent … performance are assessed. The most economically attractive among alternative monetary orders, the adoption by Canada of the US … politically attainable. Intermediate arrangements are unattractive and clearly inferior to Canada's current monetary order. …
Persistent link: https://www.econbiz.de/10011541166
Persistent link: https://www.econbiz.de/10003379801
Investment statistics of the People's Republic of China are a source of many puzzles. Some investment data are of dubious quality, while the particular concepts of investment and their changing definitions over time are often poorly understood. Fixed asset investment, a remnant of the planned...
Persistent link: https://www.econbiz.de/10012165950
Preparations are underway to revise national accounting to implement actuarial recording of pension liabilities for corporations and government as an employer. This paper extends this to unfunded public pensions with the help of "implicit tax" in pension contributions. The clearest advantages of...
Persistent link: https://www.econbiz.de/10011449487
Do the U.S. have a current account surplus or a deficit with the EU? Since 2009, official sources disagree: The U.S. Department of Commerce claims a consistent U.S. surplus while Eurostat reports the opposite. International transactions are notoriously difficult to measure accurately, but the...
Persistent link: https://www.econbiz.de/10012065058
This paper summarizes assumptions made and results obtained in parts of the literature on welfare and sustainability accounting. I consider five different assumptions that can be imposed independently of each other, producing 32 different combinations. This taxonomy is used to organize results...
Persistent link: https://www.econbiz.de/10011514087
We develop a framework for analyzing national income accounting using a revealed welfare approach that is sufficiently general to cover, e.g., both the standard discounted utilitarian and maximin criteria as special cases. We show that the basic welfare properties of comprehensive national...
Persistent link: https://www.econbiz.de/10011514098
The planned movement to the origin principle with the cross-border pre-tax system on a full-scale would lead, ceteris paribus, to changes in VAT revenues in the individual EU countries. For instance, the member countries with trade surpluses and higher VAT rates would be significantly better...
Persistent link: https://www.econbiz.de/10011508012
The size of tax evasion and fraud appears to be increasing steadily in the EU. To a certain extent, the completion of Single Market has further encouraged firms and households evasive behaviour in paying value added taxes in the EU Member States, whereas such efforts have traditionally been most...
Persistent link: https://www.econbiz.de/10011398040
We consider the question of how to integrate carbon emissions in comprehensive national accounts for the purpose of indicating whether countries' development is sustainable. We derive an expression for national saving which includes not only the national effect of current global emissions, but...
Persistent link: https://www.econbiz.de/10014314274