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Regional Decentralization and the Soft Budget Constraint: The Case of China

Qian, Yingyi; Roland, Gérard - C.E.P.R. Discussion Papers - 1994

The majority of enterprises in China are controlled by local governments at the provincial, city, county, township and … lower-level governments of townships and villages in China. …

Persistent link: https://www.econbiz.de/10005124311

Provincial Protectionism

Sonin, Konstantin - C.E.P.R. Discussion Papers - 2003

federal centre. The theory is supported by the recent experience of Russia, China, and Argentina. …

Persistent link: https://www.econbiz.de/10005792438

Economic and Politico-Economic Equivalence

Gonzalez-Eiras, Martin; Niepelt, Dirk - C.E.P.R. Discussion Papers - 2012

We extend "economic equivalence" results, like the Ricardian equivalence proposition, to the political sphere where policy is chosen sequentially. We derive conditions under which a policy regime (summarizing admissible policy choices in every period) and a state are "politico-economically...

Persistent link: https://www.econbiz.de/10011083537

Optimal Taxation with Rent-Seeking

Rothschild, Casey; Scheuer, Florian - C.E.P.R. Discussion Papers - 2014

We develop a framework for optimal taxation when agents can earn their income both in traditional activities, where private and social products coincide, and in rent-seeking activities, where private returns exceed social returns either because they involve the capture of pre-existing rents or...

Persistent link: https://www.econbiz.de/10011084719

Customs Union, Tariff Reform and Trade in Differentiated Products

Venables, Anthony J - C.E.P.R. Discussion Papers - 1985

The paper analyses tax and tariff policy for trade between economies which each contain a monopolistically competitive industry producing differentiated products. The consequences of tax changes by a single country are examined, and the general desirability of taxing imports more heavily than...

Persistent link: https://www.econbiz.de/10005662246

Evaluating Tax Policy for Location Decisions

Devereux, Michael P.; Griffith, Rachel - C.E.P.R. Discussion Papers - 2002

We consider the impact of taxation when investors face a discrete choice between two or more mutually exclusive projects; in particular we consider the location choice of multinationals. Such choices depend on an effective average tax rate. We propose a precise measure of this rate, which is...

Persistent link: https://www.econbiz.de/10005791911

The Choice and Timing of Foreign Market Entry under Uncertainty

Pennings, Enrico; Sleuwaegen, Leo - C.E.P.R. Discussion Papers - 2000

This paper sheds new light on why timing and entry mode should be considered simultaneously. We derive the profit levels at which it is optimal to switch from exporting to setting up a wholly owned subsidiary, creating a joint venture, or licensing production to a local firm. The preferred entry...

Persistent link: https://www.econbiz.de/10005792542

Common Agency and Coordination: General Theory and Application to Tax Policy

Dixit, Avinash K; Grossman, Gene; Helpman, Elhanan - C.E.P.R. Discussion Papers - 1996

We develop a model of common agency with complete information and general preferences with non-transferable utility, and prove that the principals’ Nash equilibrium in truthful strategies implements an efficient action. We apply this theory to construct a positive model of public finance,...

Persistent link: https://www.econbiz.de/10005136565

Economic Transition and Private-Sector Labor Demand: Evidence from Urban China

Iyer, Lakshmi; Meng, Xin; Qian, Nancy; Zhao, Xiaoxue - C.E.P.R. Discussion Papers - 2014

private sector in urban China. We show that a reform that untied access to housing in urban areas from working for the state …

Persistent link: https://www.econbiz.de/10011084427

A Multilateral Payments Union for the Commonwealth of Independent States: Why and How?

Bofinger, Peter; Gros, Daniel - C.E.P.R. Discussion Papers - 1992

above all on Russia's ability to pursue non-inflationary monetary and fiscal policies. If this approach is not adopted and … to its members. While Russia, the prospective creditor, would have to be willing to provide a part of its multilateral … limit the burden to be borne by Russia. As the transition to world market prices for energy would lead to unsustainable …

Persistent link: https://www.econbiz.de/10005661562