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Public Finance and the Optimal Speed of Transition

Castanheira, Micael - C.E.P.R. Discussion Papers - 2003

We develop a general equilibrium model that jointly considers the influence of capital accumulation constraints and of labour market frictions on the process of transition. We endogenize the economic and budgetary costs of different government policies and show that, early in transition,...

Persistent link: https://www.econbiz.de/10005504399

Taxes and Subsidies in the Transforming Hungarian Economy

Revesz, Tamas; Zalai, Erno - C.E.P.R. Discussion Papers - 1992

government's budget, especially the roles played by taxes and subsidies. This paper reviews the Hungarian fiscal situation in … taxation and the various forms of subsidy and social welfare provision. Despite the removal of many former subsidies, the paper … finds that many implicit and unjustified subsidies remain, and they continue to distort resource allocation in undesirable …

Persistent link: https://www.econbiz.de/10005136594

The Impact of R&D Subsidies on the Introduction of New Products by Incumbent Firms

Siebert, Ralph - C.E.P.R. Discussion Papers - 2003

This Paper analyses the impact of R&D subsidies on incumbent firms to introduce new goods. We are especially interested … in investigating various consequences of government subsidies for R&D, provided to firms that offer products of different …

Persistent link: https://www.econbiz.de/10005504784

Redistribution and Education Subsidies are Siamese Twins

Bovenberg, A Lans; Jacobs, Bas - C.E.P.R. Discussion Papers - 2001

optimal level of education subsidies along with the optimal progressive schedule of the labour income tax and optimal capital … income taxes. Subsidies on education ensure efficiency in human capital accumulation, while taxes on skilled labour help to … redistribute income towards the less able. We thus provide a rationale for the widely observed presence of education subsidies. The …

Persistent link: https://www.econbiz.de/10005504308

Political Institutions and Economic Growth

Marsiliani, Laura; Renström, Thomas I - C.E.P.R. Discussion Papers - 2007

We analyze the impact of micro-founded political institutions on economic growth in an overlapping-generations economy, where individuals differ in preferences over a public good (as well as in age). Labour and capital taxes finance the public good and a public input. The benchmark institution...

Persistent link: https://www.econbiz.de/10005504348

Why Pay More? Corporate Tax Avoidance Through Transfer Pricing in OECD Countries

Bartelsman, Eric J; Beetsma, Roel - C.E.P.R. Discussion Papers - 2000

This paper presents evidence of profit shifting in response to differences in corporate tax rates for a large selection of OECD countries. In our estimates we control for the effects of tax rate changes on real activity. Our baseline estimates suggest that, on average, a unilateral increase in...

Persistent link: https://www.econbiz.de/10005504504

The Complexity of Economic Policy: I. Restricted Local Optima in Tax Policy Design

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2002

Economists traditionally tackle normative problems by computing optimal policy, ie the one that maximizes a social welfare function. In practice, however, a succession of marginal changes to a limited number of policy instruments are implemented, until no further improvement is feasible. I call...

Persistent link: https://www.econbiz.de/10005504617

Fiscal Policy with Agents Differing in Altruism and in Ability

Michel, Philippe; Pestieau, Pierre - C.E.P.R. Discussion Papers - 2004

This Paper explores the effects of a menu of inter-generational fiscal policies (public debt financed by taxes, PAYG social security system and inheritance taxation) in an overlapping generations model with perfect altruism. It generalizes the model by Barro (1974) by introducing...

Persistent link: https://www.econbiz.de/10005504719

The Political Economy of Clientelism

Robinson, James A; Verdier, Thierry - C.E.P.R. Discussion Papers - 2002

Income redistribution often takes highly inefficient forms, such as employment in the bureaucracy. We argue that this arises as an optimal political strategy in situations where politicians cannot commit to policies. Political exchanges between politicians and voters must be self-enforcing and...

Persistent link: https://www.econbiz.de/10005504795

Taking Trade Policy Seriously: Export Subsidization as a Case Study in Policy Effectiveness

Rodrik, Dani - C.E.P.R. Discussion Papers - 1994

In thinking about policy, academic economists alternate between theoretical models in which governments can design finely-tuned optimal interventions and practical considerations which usually assume the government to be incompetent and hostage to special interests. I argue in this paper that...

Persistent link: https://www.econbiz.de/10005497779