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Tax Competition and Migration : The Race-to-The-Bottom Hypothesis Revisited

Razin, Assaf - 2011

Oates reminds us that tax competition among localities in the presence of capital mobility, may lead to inefficiently low tax rates (and benefits). In contrast, the Tiebout paradigm suggests that tax competition yields an efficient outcome, so that there are no gains from tax coordination. This...

Persistent link: https://www.econbiz.de/10013131671

The Output Effect of Fiscal Consolidations

Alesina, Alberto F. - 2012

The present paper argues that the correct experiment to evaluate the effects of a fiscal adjustment is the simulation of fiscal plans rather than of individual fiscal shocks. The simulation of the fiscal plans adopted by 16 OECD countries over a 30-year period supports the hypothesis that the...

Persistent link: https://www.econbiz.de/10013101511

How Large are the Effects of Tax Changes?

Favero, Carlo A. - 2009

We use the time series of shifts in U.S. Federal tax liabilities constructed by Romer and Romer to estimate tax multipliers. Differently from the single-equation approach adopted by Romer and Romer, our estimation strategy (a Var that includes output, government spending and revenues, inflation...

Persistent link: https://www.econbiz.de/10013156671

What Do We Know About the Effects of Austerity?

Alesina, Alberto F. - 2018

This paper summarizes the results of a large recent literature on multi year fiscal plans for deficit reduction (austerity). The key results are that deficit reduction policies based upon spending cuts are much less costly in terms of short run output losses than tax based adjustments. On...

Persistent link: https://www.econbiz.de/10012929010

Exchange-Rate Management Viewed as Tax Policies

Frenkel, Jacob A.; Razin, Assaf - 2021

rate for all transactions. We show that the dual exchange rate policies can be usefully cast as distortionary taxes on …

Persistent link: https://www.econbiz.de/10013235616

Determinants of External Imbalances : The Role Taxes, Government Spending and Productivity

Leiderman, Leonardo; Razin, Assaf - 2021

This paper develops and estimates a dynamic optimizing model of the current account. The model focuses, on real factors that determine the evolution of saving and investment, and hence the external balance. Three types of shocks are at the center of the analysis: productivity shocks, shocks to...

Persistent link: https://www.econbiz.de/10013238950

Deficits with Distortionary Taxes : International Dimensions

Frenkel, Jacob A.; Razin, Assaf - 2021

mechanism depend critically on the precise composition of taxes. Specifically, the international effects of budget deficits of a … given size differ sharply according to the types of taxes used to generate the deficit. We show that in determining the … effects of taxes it is useful to divide the various distortionary taxes into two groups: those that stimulate current external …

Persistent link: https://www.econbiz.de/10013242920

Tax Policy, Investments in Human and Physical Capital, and Productivity

Nerlove, Marc; Razin, Assaf; Sadka, Efraim; von … - 2021

This paper analyzes the implications of tax policy for the accumulation of human and physical capital and for the overall productivity level of the economy. A comprehensive income tax, applying to both labour income and capital income. discriminates against investments in human capital relative...

Persistent link: https://www.econbiz.de/10013245525

Fiscal Policies and Real Exchange Rates in the World Economy

Frenkel, Jacob A.; Razin, Assaf - 2021

-distortionary taxes and for various patterns of government spending, it is shown that the quantitative and qualitative effects of fiscal … and tax structure, including the timing of taxes and borrowing and the types of taxes used to finance the budget, on the …

Persistent link: https://www.econbiz.de/10013246077

Effective Tax Rates in Macroeconomics : Cross-Country Estimates of Tax Rates on Factor Incomes and Consumption

Mendoza, Enrique G. - 2011

different taxes at the general government level and defines aggregate measures of the corresponding tax bases. This method …

Persistent link: https://www.econbiz.de/10013126893