The paper deals with the brain drain phenomenon (rational minds migration), displayed inside the European Union, in close correlation with European tax competition. Speciality literature from the countries of the European Union deals with great responsibilty the migration process of the...

Following the conditions in which, the taxpayers accomplish more frequently sponsorship and patronage actions, in this paper, we propose to expose the tax treatment of these operations from the perspective of some trading companies, taxably person registered in purposes of VAT in Romania and...

Like all the other tax revenues, corporate taxes accomplish both a financial and an economic role. The financial role of these taxes is expressed in the fact that they represent a means of forming the state’s income. The taxes economic role is concretized in the fact that, by their dimension,...

The share of public investment relative to consumption expenditure has declined in past decades. Earlier literature has attributed this stylised fact variably to the relative political ease of cutting investment; different cyclical patterns of public investment and consumption; or to EMU’s...

We examine the role of expectations in the Great Moderation episode. We derive theoretical restrictions in a New-Keynesian model and test them using measures of expectations obtained from survey data, the Greenbook and bond markets. Expectations explain the dynamics of inflation and interest...

This paper, which draws on the author's book "The Economic Consequences of Quebec Sovereignty," examines the thorny issue of how the existing Canadian federal debt might be redistributed in the event that Quebec were to become a sovereign nation. Debt division would be at best a "zero sum" game...

Wall Street hyper-speculation brought the global economy to its knees in 2008-09.  To prevent a 1930s-level Depression at that time, economic policymakers throughout the world enacted extraordinary measures.  These included large-scale fiscal stimulus programs, financed by major expansions in...

This paper investigates the widely held view that expansionary fiscal policy can boost consumer and business confidence, which will stimulate private spending and sustain economic activity. We find evidence in favor of this conjecture, i.e., cuts in direct taxes generate a positive effect on...

This work provides empirical evidence for a sizeable, statistically significant negative impact of the quality of fiscal institutions on public spending volatility for a panel of 25 EU countries over the 1980-2007 period. The dependent variable is the volatility of discretionary fiscal policy,...