Summary The negative transmission of fiscal policy among the members of an exchange rate union is a reason against the conduct of fiscal policy at the national level. Independent fiscal policies would act as asymmetric shocks for the union and cause a spiral of strategic reactions. This result...

This paper analyses the scientific and institutional debate on fiscal federalism that took place in Italy in the period between the early Seventies and the early Nineties, when the traditional approach was confronted with the new public choice one, in the context of the changing views on the...

We study the problem of optimal inheritance and capital income taxation in an economy with migration. We find that, contrary to previous studies on OLG models, even if the utility function is assumed to be homothetic and separable in consumption and leisure, a non-zero tax result emerges...

The Danish fiscal consolidation of the early 1980s has received much scholarly attention because it was followed by an expansion of demand and output. The expansion of private consumption so far has been attributed to the expectations of future lower tax burdens. This article analyzes the...

type="main" xml:lang="en" <p>This paper addresses the question of the need for income tax harmonization in the context of regional integration. It analyses the international distortions and fiscal interdependence arising in the presence of tax rate differentials both under a theoretical and an...</p>

Cosciani’s aim is the study of the economic reasons, forms and repercussions onto the market of state intervention. Starting from the insufficiency of economic freedom in maximizing social welfare, budgetary policy is considered to substitute public choices for market decisions: coercion...

In this paper we extend Nordhaus’ (1994) results to an environment which may represent the current European situation, characterised by a single monetary authority and several fiscal bodies. We show that: a) co-operation among national fiscal authorities is welfare improving only if they also...