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The Architecture of Federations: Constitutions, Bargaining, and Moral Hazard

Kessler, Anke; Luelfesmann, Christoph; Myers, Gordon M - C.E.P.R. Discussion Papers - 2009

centralization and decentralization are suboptimal as long as political bargaining does not take place. With bargaining, however, the … first best can often be achieved under decentralization, but not under centralization. At the root of this result is the …

Persistent link: https://www.econbiz.de/10005662248

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

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

enterprises. Fiscal decentralization combined with monetary centralization (i.e. fiscal federalism) may achieve not only hard … village levels. We study the effect of regional decentralization on soft budget constraints in these enterprises. We show that …. Decentralization of monetary authority leads to a softening of local governments' budget constraints, however, as well as those of …

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

The Institutional Foundations of China’s Reforms and Development

Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2010

resist reforms, policies, rules and laws. China’s reform trajectories have been shaped by regional decentralization …

Persistent link: https://www.econbiz.de/10008468688

Taxing Risky Investment

Devereux, Michael P. - C.E.P.R. Discussion Papers - 2003

This Paper re-examines the impact of capital income taxes on the incentive to invest in the presence of risk. Specifically, it challenges a well-known claim in the literature that such a tax can leave incentives ‘basically unaffected’ because the tax liability is offset by a reduction in the...

Persistent link: https://www.econbiz.de/10005666854

Computing Effective Tax Rates on Factor Incomes and Consumption: An International Macroeconomic Perspective

Mendoza, Enrique G; Razin, Assaf; Tesar, Linda - C.E.P.R. Discussion Papers - 1994

This paper proposes a methodology for computing effective average tax rates using national accounts and revenue statistics, and applies it to construct time-series of tax rates for the seven largest industrialized countries. The resulting tax rates are consistent with available estimates of...

Persistent link: https://www.econbiz.de/10005124394

Commodity Tax Competition and Tax Coordination Under Destination and Origin Principles

Lockwood, Ben - C.E.P.R. Discussion Papers - 2000

This paper proposes a general framework for analysing commodity tax competition under destination and origin principles, based on three possible tax spillovers: the consumer price spillover, the producer price/terms of trade spillover, and rent spillovers. A model is presented which can be...

Persistent link: https://www.econbiz.de/10005504270

Competing for Capital in a 'Lumpy' World

Kind, Hans Jarle; Schjelderup, Guttorm; Ulltveit-Moe, … - C.E.P.R. Discussion Papers - 1999

This paper uses a new economic geography model to analyze tax competition between two countries trying to attract internationally mobile capital. Each government may levy a source tax on capital and a lump sum tax on fixed labor. If industry is concentrated in one of the countries, the analysis...

Persistent link: https://www.econbiz.de/10005504508

Taxation if Capital is Not Perfectly Mobile: Tax Competition versus Tax Exportation

Eijffinger, Sylvester C W; Wagner, Wolf - C.E.P.R. Discussion Papers - 2001

This Paper analyses the tax competition and tax exporting effect of financial integration. On the one hand, financial integration increases capital mobility and thus the incentive for countries to compete for capital. On the other hand, financial integration increases foreign ownership of firms...

Persistent link: https://www.econbiz.de/10005497904

Taxes in Cities

Brülhart, Marius; Bucovetsky, Sam; Schmidheiny, Kurt - C.E.P.R. Discussion Papers - 2014

Most cities enjoy some autonomy over how they tax their residents, and that autonomy is typically exercised by multiple municipal governments within a given city. In this chapter, we document patterns of city-level taxation across countries, and we review the literature on a number of salient...

Persistent link: https://www.econbiz.de/10011083800

Local taxation of global corporations: a simple solution

Hindriks, Jean J.G.; Peralta, Susana; Weber, Shlomo - C.E.P.R. Discussion Papers - 2013

The explosion of globalization has increased firms incentives to exploit international tax differentials to their benefit. In this paper we consider a simple world with two countries with different market sizes and two multinationals with a division in each country. Both countries use a...

Persistent link: https://www.econbiz.de/10011084202