The paper analyzes the effect of a negative population growth rate on per capita income growth using a simple model of semi-endogenous growth. It is shown that there is a non-monotonous relationship between population growth rates and long-run per capita income growth rates. Compared to the case...

The present paper analyzes how the welfare state, i.e., social insurance that works through redistributive taxation, should respond to increases in the skewness of the risk distribution. Income risks can be hedged either by individual self-insurance or by social insurance. It is shown that...

Within a tax competition framework, this note points out that the tax principle of Formula Apportionment may render corporate income taxation of multinational enterprises efficient even if a sales apportionment factor is not available. This is shown for constant returns to scale production...