The ownership nationality of large US multinational companies plays an implicit but important role in the current debate over how such companies should be taxed. This paper identifies that role and investigates what is actually known about where these companies’ shareholders reside.

The common consolidated corporate tax base has been suggested as a way to curb tax avoidance by allocating profits across borders via a formula. This paper demonstrates that when transfer pricing occurs both for tariff and tax minimization, that moving from separate accounting to formula...

The theory of optimal currency areas states that a currency union may succeed if the participating countries have complementary industry structures. If this is not the case a currency union does not, inevitably, have to fail because market forces will induce adjustments of the industry...

The current debate on the EURO distracts attention on the next steps of economic integration, namely the field of fiscal integration and tax competition in Europe. This paper puts a focus on some perspectives of this like theoretical welfare implications, the question of fairness and harmfulness...

The enlargement of the EU in 2004 and 2007 has led to a significant increase in population and territory, but also a huge increase in differences regarding economic structure and development levels. Despite the traditions of the EU in dealing with such differences, the scope of the latest...

National budget deficits can create externalities through their effects on international interest rates. This paper examines the scope for fiscal rules restricting government borrowing for the case where government revenues (on the margin) stem from capital income taxation. There is no need to...

This paper proposes a redemption fund for the euro zone countries alternative to that recently proposed by Doluca et al. (2012) – The European Redemption Pact: an Illustrative Guide, GCEE Working Paper No.2, February – and in coherence with a previous proposal of one of the author. In doing...

Jóllehet már a bevezetés ütemtervét is részletesen kidolgozták, még mindig sokan vitatják az EU gazdasági és pénzügyi uniójának koncepcióját. Újabb és újabb problémák merülnek fel, és még számtalan kérdés vár megválaszolásra. Még nem tudni, mely országok...

We study the optimal combination of corporate tax rate and tax base in a model of a small open economy with heterogeneous firms. We show that it is optimal for the small country's government to effectively subsidize capital inputs by granting a tax allowance in excess of the true costs of...

Heterogeneous firm productivity seems to provide an argument for governments to pursue `pick-the-winner' strategies by subsidizing highly productive firms more, or taxing them less, than their less productive counterparts. We appraise this argument by studying the optimal choice of effective tax...