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Does globalization restrict budgetary autonomy? : a multidimensional approach

Heinemann, Friedrich - 1999

Does globalization restrict the leeway for national budgetary policy? With the help of cluster and discriminant … dimensions are included in the analysis: tax structure, expenditure structure, public debt and budget size. Globalization as a … globalization does indeed matter for government budgets. However, substantial room for an individual national policy particularly in …

Persistent link: https://www.econbiz.de/10013428253

Tax competition and tax structure in open federal economies : evidence from OECD countries with implications for the European Union

Goodspeed, Timothy J. - 1999

Tax competition arguments suggest that governements that operate in an open economy (such as local governments) should not and will not rely on non-benefit taxes, such as the income tax. Yet we observe reliance on income taxes by local governments in many countries, and such reliance changes...

Persistent link: https://www.econbiz.de/10013428264

Exchange rate regimes and fiscal discipline in OECD countries

Heinemann, Friedrich - 1999

Since the start of EMU national fiscal policy in the Eurozone can be conducted almost without paying any attention to consequences for the exchange rate. This might lower fiscal discipline. In order to shed light on the empirical relevance of this consideration, the impact of the exchange rate...

Persistent link: https://www.econbiz.de/10000683878

Attracting profit shifting or fostering innovation? : on patent boxes and RD subsidies

Haufler, Andreas; Schindler, Dirk - 2022

Many countries have introduced patent box regimes in recent years, offering a reduced tax rate to businesses for their IP-related income. In this paper, we analyze the effects of patent box regimes when countries can simultaneously use patent boxes and R&D subsidies to promote innovation. We...

Persistent link: https://www.econbiz.de/10014458817

Taxing mobile and overconfident top earners

Haufler, Andreas; Nishimura, Yukihiro - 2022 - Revised version, February 2022

We set up a simple model of tax competition for mobile, highly-skilled and overconfident managers. Firms endogenously choose the compensation scheme for managers, which consists of a fixed wage and a bonus payment in the high state. Managers are overconfident about the probability of the high...

Persistent link: https://www.econbiz.de/10013193271

Bonus taxes and international competition for bank managers

Gietl, Daniel; Haufler, Andreas - 2017

We analyze the competition in bonus taxation when banks compensate their managers by means of fixed and incentive pay and bankers are internationally mobile. Banks choose bonus payments that induce excessive managerial risk-taking to maximize their private benefits of existing government bailout...

Persistent link: https://www.econbiz.de/10011698220

Factor mobility, government debt and the decline in public investment

Heinemann, Friedrich - 2002

This paper tries to explain the declining level of public investment in OECD countries. The theoretical framework hints to the relevance of a number of demand and supply factors - ranging from the yield of public investment to institutions like the EU deficit limits. The econometric results...

Persistent link: https://www.econbiz.de/10001657235

Fiscal sustainability duringthe COVID-19 pandemic

Hürtgen, Patrick - 2020

The "Great Lockdown" implemented in response to the COVID-19 pandemic has led to a severe world-wide economic crisis. In euro area countries, sovereign debt-to-GDP ratios are on the rise and reductions in expected fiscal surpluses raise sustainability concerns amongst investors. This paper...

Persistent link: https://www.econbiz.de/10012250617

The EMU consolidation game - or: Does 3.0 really mean 3.0?

Heinemann, Friedrich - 1998

Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...

Persistent link: https://www.econbiz.de/10013428121

EMU and fiscal discipline: the end of the depreciation threat

Heinemann, Friedrich - 1998

Are the characteristics of the exchange rate regime relevant for the degree of fiscal discipline? What are the conclusions for fiscal behavior in Europe after the transition to EMU? These are the central questions that are analyzed in this paper from a theoretical point of view. After a general...

Persistent link: https://www.econbiz.de/10013428171