Showing 1 - 9 of 9
international transmission of fiscal policies.The dependence of the patterns of consumption in one country on fiscal policiesin the … immediate increase in foreign private sector's consumption and thereby results in a positive current transmission. These …
Persistent link: https://www.econbiz.de/10013223092
the relation among the intercountry patterns of consumption, long and short-term real rates of interest, real exchange …
Persistent link: https://www.econbiz.de/10013225419
This paper analyses the effects of fiscal policies on rates of interest and wealth in the world economy. Uncertainty concerning the length of life yields an equilibrium in which private and social rates of discount differ and budget deficits exert real effects. It is shown that a current budget...
Persistent link: https://www.econbiz.de/10013243646
This paper examines the effects of fiscal policies on the evolution of real rates of interest and real exchange rates in the interdependent world economy. We construct an analytical framework suitable for a detailed examination of the various channels through which these variables are influenced...
Persistent link: https://www.econbiz.de/10013246077
We develop a stylized EU-type model of a union consisting of rich, capital-abundant and high productivity countries, and poor, capital-scarce and low productivity countries. We address two main issues: the efficiency of tax competition and the effect of factor mobility on the size of the welfare...
Persistent link: https://www.econbiz.de/10013077970
The aging of the population shakes the confidence in the economic viability of pay-as-you-go social security systems. We demonstrate how in a political-economy framework the shaken cofidence leads to the downsizing of the social security-system, and to the emergence of supplemental individual...
Persistent link: https://www.econbiz.de/10013322100
The paper highlights key considerations necessary for the analysis of international tax competition and the desirability of international tax harmonization. The analysis of a Nash-Cournot international tax competition is carried out for (1) competing countries that cannot exercise significant...
Persistent link: https://www.econbiz.de/10013230601
The paper compares migration policy and welfare state generosity between America and Europe. There is more selective skill-based migration policy in the US compared to the European Union. Policy coordination among states within the federal system on migration, taxes, and social benefits among...
Persistent link: https://www.econbiz.de/10014242717
Using a human capital based growth model, we show the essential role of labor mobility and cross-country tax harmonization in equalizing income levels of countries that start off from different initial income positions. Knowledge spillovers cum labor mobility are the driving forces behind the...
Persistent link: https://www.econbiz.de/10013229120