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Taxing internationally mobile factors of production has been dismissed as an inefficient means of raising tax revenue. This paper addresses the question of whether it is efficient to tax capital at source when labor markets and the taxation of lumpsum income suffer from imperfections. Four...
Persistent link: https://www.econbiz.de/10011398791
This paper analyzes regional public education policy in the presence of mobile workers. Labor market integration leads to fiscal competition, shifting the whole burden of taxation to immobile workers. In the case of mobile skilled workers, this results in income inequalities and inefficient low...
Persistent link: https://www.econbiz.de/10011507887
In the struggle between the forces of free trade and the restrictive influence of insularism the latter recently seems to have the upper hand. This is illustrated by the referendum of June 23, 2016 where the United Kingdom (UK) voted to leave the Europea+n Union (EU). In this paper we evaluate...
Persistent link: https://www.econbiz.de/10011892540
This paper introduces finance or credit in the Dixit-Stiglitz-Krugman (DSK) model of international trade. It identifies mechanisms by which finance can affect the main results of the conventional model. The key results are as follows. Perfect credit market does not affect number of varieties or...
Persistent link: https://www.econbiz.de/10013262745
It is well recognized that there emerged a trend of inward looking trade policies even before COVID pandemic crippled the world. These were reflected in both BREXIT and US-China trade conflict. As countries become inward oriented, usually local prices start rising. With this backdrop this paper...
Persistent link: https://www.econbiz.de/10012373134
assessed by using WorldScan, a CGE model for the world economy. The results suggest that the candidate member states will gain …
Persistent link: https://www.econbiz.de/10011400805
Persistent link: https://www.econbiz.de/10003712522
This paper studies the effects of labour market reforms on the functional distribution of income in a DSGE model (Roeger et al., 2008) with skill differentiation, in which households supply three types of labour: low-, medium- and high-skilled. The households receive income from labour, tangible...
Persistent link: https://www.econbiz.de/10012118569
Increased integration of labour and capital markets creates significant challenges for the welfare states of modern Europe. Taxation of capital and labour that finances extensive programs of cash and in-kind redistribution creates incentives for capital owners and workers to locate in regions...
Persistent link: https://www.econbiz.de/10009781625
This paper analyzes fiscal competition among numerous spatially- separated jurisdictions in an explicitly dynamic framework. The degree of factor mobility between jurisdictions is imperfect because it is costly and time-consuming to adjust factor stocks. Even if it is harmful in the long run, a...
Persistent link: https://www.econbiz.de/10009781651