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Free-riding or internalizing? An opportunistic view on decentralization versus centralization

Fiorillo, Fabio; Sacchi, Agnese - 2011

comparing decentralized and centralized system. As in the recent Second Generation Theory (SGT) of fiscal federalism (Seabright … production cost of the public good in each region, a different trade-off - from the traditional and new theory of fiscal … externalities and the losses of freeriding advantages, which may differ with regional size and preferences for the public good …

Persistent link: https://www.econbiz.de/10010274883

Public investment as commitment

Gerlagh, Reyer; Liski, Matti - 2011

? The long-term nature of public investments provides commitment to current preferences, which justifies lower than private … general welfare content: it implements Pareto efficiency if and only if preferences are time-consistent. Efficiency requires …

Persistent link: https://www.econbiz.de/10010274884

Welfare-optimal status planning of minority languages: An economic approach

Wickström, Bengt-Arne - 2011

endogeneity of preferences as well as in the discrete character of rights. It is shown how efficiency and distribution …

Persistent link: https://www.econbiz.de/10010274886

International trade, union wage premia, and welfare in general equilibrium

Kreickemeier, Udo; Meland, Frode - 2011

We study how two distinct forms of globalisation, trade cost reductions and opening up of trade in previously shielded sectors, affect sector-specific wages, employment levels and aggregate welfare in a two-country model of general oligopolistic equilibrium (GOLE) with partly unionised labour...

Persistent link: https://www.econbiz.de/10010274887

An elementary theory of global supply chains

Costinot, Arnaud; Vogel, Jonathan E.; Wang, Su - 2011

This paper develops an elementary theory of global supply chains. We consider a world economy with an arbitrary number …

Persistent link: https://www.econbiz.de/10010274888

Student and worker mobility under university and government competition

Delpierre, Matthieu; Verheyden, Bertrand - 2011

We provide a normative analysis of endogenous student and worker mobility in the presence of diverging interests between universities and governments. Student mobility generates a university competition effect which induces them to overinvest in education, whereas worker mobility generates a...

Persistent link: https://www.econbiz.de/10010274891

Democracy, inequality and the environment when citizens can mitigate privately or act collectively

Bernard, Sophie; Hotte, Louis; Winer, Stanley L. - 2010

We study the political economy of the environment in autocratic, weak and strong democracies when individuals can either mitigate the health consequences of domestic pollution privately or reduce pollution collectively through public policy. The setting is that of a small open economy in which...

Persistent link: https://www.econbiz.de/10010274898

Strategic nonlinear income tax competition with perfect labor mobility

Bierbrauer, Felix; Brett, Craig; Weymark, John A. - 2011

Tax competition between two governments who choose nonlinear income tax schedules to maximize the average utility of its residents when skills are unobservable and labor is perfectly mobile is examined. We show that there are no Nash equilibria in which there is a skill type that pays positive...

Persistent link: https://www.econbiz.de/10010274900

Financial frictions and inflation differentials in a monetary union

Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2010

This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation differentials can be explained by cross-country differences concerning the characteristics of financial markets. Our results suggest that empirically plausible degrees of...

Persistent link: https://www.econbiz.de/10010274902

Partial harmonization of corporate taxes in an asymmetric repeated game setting

Itaya, Jun-ichi; Okamura, Makoto; Yamaguchi, Chikara - 2010

This paper investigates the conditions under which partial harmonization for capital taxation is sustained in a repeated interactions model of tax competition when there are three heterogenous countries with respect to their capital endowments. We show that regardless of the structure of the...

Persistent link: https://www.econbiz.de/10010274903