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Fiscal Equalization and the Tax Structure

Holm-Hadulla, Fédéric - 2021

Sub-national governments often finance substantial parts of their budgets via taxes on capital or other mobile factors – despite having access to alternative, less distortionary, revenue sources. This paper develops three hypotheses to explain this pattern and tests them in a natural...

Persistent link: https://www.econbiz.de/10013315380

Fiscal competition over taxes and public inputs - theory and evidence

Hauptmeier, Sebastian; Mittermaier, Ferdinand; Rincke, … - 2009

We set up a model to characterize the reaction functions of governments competing for mobile capital by simultaneously setting both the business tax rate as well as the level of provision of a productive public input. Using a rich data set of local jurisdictions, we then test the predictions of...

Persistent link: https://www.econbiz.de/10011605079

Fiscal equalization and the tax structure

Holm-Hadulla, Fédéric - 2018

Sub-national governments often finance substantial parts of their budgets via taxes on capital or other mobile factors - despite having access to alternative, less distortionary, revenue sources. This paper develops three hypotheses to explain this pattern and tests them in a natural experiment...

Persistent link: https://www.econbiz.de/10012142047

3-step analysis of public finances sustainability: the case of the European Union

Afonso, António; Rault, Christophe - 2008

specific panel unit root test to investigate the meanreverting behaviour of general government expenditure and revenue ratios …. Secondly, we apply the bootstrap panel cointegration techniques that account for the time series and cross … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …

Persistent link: https://www.econbiz.de/10011604954

Budgetary and external imbalances relationship: a panel data diagnostic

Afonso, António; Rault, Christophe - 2008

, using recent bootstrap panel cointegration techniques and SUR methods. We investigate the magnitude of the relationship … panel cointegration tests used allow for within and between correlation, while the SUR results show both positive and …

Persistent link: https://www.econbiz.de/10011605007

FDI and productivity convergence in central and eastern Europe: an industry-level investigation

Bijsterbosch, Martin; Kolasa, Marcin - 2009

This paper presents empirical evidence of the effect of FDI inflows on productivity convergence in central and eastern Europe, using industry-level data. Four conclusions stand out. First, there is a strong convergence effect in productivity, both at the country and at the industry level....

Persistent link: https://www.econbiz.de/10011605038

Financing obstacles and growth: an analysis for euro area non-financial corporations

Coluzzi, Chiara; Ferrando, Annalisa; … - 2009

, significantly affect firm growth. For this purpose, we use an unbalanced panel of about 1,000,000 observations for around 155 …,000 non-financial corporations in five euro area countries. In addition to the balance sheet information in this panel, we …

Persistent link: https://www.econbiz.de/10011605043

Fiscal behaviour in the European Union: rules, fiscal decentralization and government indebtedness

Afonso, António; Hauptmeier, Sebastian - 2009

We assess the fiscal behaviour in the European Union countries for the period 1990-2005 via the responsiveness of budget balances to several determinants. The results show that the existence of effective fiscal rules, the degree of public spending decentralization, and the electoral cycle can...

Persistent link: https://www.econbiz.de/10011605100

Efficiency and risk in european banking

Fiordelisi, Franco; Marqués-Ibáñez, David; Molyneux, Phil - 2010

We analyze the impact of efficiency on bank risk. We also consider whether bank capital has an effect on this relationship. We model the inter-temporal relationships among efficiency, capital and risk for a large sample of commercial banks operating in the European Union. We find that reductions...

Persistent link: https://www.econbiz.de/10011605257

Fiscal policy and growth: do financial crises make a difference?

Afonso, António; Grüner, Hans Peter; Kolerus, Christina - 2010

mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel …

Persistent link: https://www.econbiz.de/10011605263