Tax competition between independent authorities is known to lead to inefficient outcomes, implying there is scope for cooperation. In an international framework where the authorities are national governments, the undesirable features of tax competition may alternatively be mitigated by imposing...

This paper reexamines the issue of international financial capital mobility, which is today's economic orthodoxy. Discussion is often framed in terms of the impossible trinity. That framing distorts discussion by representing capital mobility as having equal significance with sovereign monetary...