We introduce a new way to model the Bismarckian social insuance system, stressing its corporatist dimension. Comparing the Beveridgean, Bismarckian and Liberal systems according to the majority voting rule, we show that for a given distribution of risks inside society, the Liberal system wins if...

This paper studies the existence of a fiscal Nash equilibrium in a multi-country model of trade where the relative prices are the channels of transmission of scal policies between countries. We stipulate the necessary conditions on goods, consumptions and trade that allow for the existence of a...

We show that the domestic output increases with a foreign country's structural reform and decreases with foreign country’s fiscal policy. Hence, when governments act non-cooperatively, they implement too low structural reforms and too much fiscal policies.

In this methodological paper, we prove that the famous tax competition game introduced by Zodrow and Mieszkowski (1986) and Wildasin (1988) in which the capital is completely owned by foreigners possesses a Nash equilibrium even when the assumption of symmetric jurisdictions is dropped. The...

In this paper, we investigate the impact of leadership in a tax competition game. We show that leadership by a group of countries is pareto improving for each country (leaders and followers) compared to a Nash equilibrium outcome. In addition, a coalition of leaders is also pareto improving and...