This paper analyses the national tax treatment of interestexpenditures of multinational enterprises in a non-cooperative world. It is shown that the international tax systemgenerally leads to distortions in the capitaldecisions of multinational firms. In contrast to the existingliterature on the...

This paper analyses the national tax treatment of interest expenditures of multinational enterprises in a non- cooperative world. It is shown that the international tax system generally leads to distortions in the capital decisions of multinational firms. In contrast to the existing literature...

This discussion paper led to a publication in the 'European Journal of Political Economics', 2004, 20, 255-262.<P> In the literature on electoral politics full convergence of policy platforms is usually regarded as socially optimal. Thereason is that risk-averse voters prefer a sure...</p>

The direct impact of local public goods on welfare is relatively easy to measure from land rents. However, the indirect effects on home and job location, on land use, and on agglomeration benefits are hard to pin down. We develop a spatial general equilibrium model for the valuation of these...

The direct impact of local public goods on welfare is relatively easy to measure from land rents. However, the indirect effects on home and job location, on land use, and on agglomeration benefits are hard to pin down. We develop a spatial general equilibrium model for the valuation of these...

The direct impact of local public goods on welfare is relatively easy to measure from land rents. However, the indirect effects on home and job location, on land use, and on agglomeration benefits are hard to pin down. We develop a spatial general equilibrium model for the valuation of these...

In a multiperiod setting, decision-makers can learn about the consequences of their decisions through experimentation. We examine how polarization and political instability affect learning through experimentation. We distinguish two cases: &lpar;i&rpar; the decision to be made is not salient and does not...

Market-based instruments are believed to create more efficient incentives for firms to adopt new technologies than command-and-control policies. We compare the effects of a direct technology regulation and of an adoption subsidy under asymmetric information about the costs of technological...

In a multiperiod setting, decision-makers can learn about the consequences of their decisions through experimentation. In this paper we examine how in a two-party system polarization and political instability affect learning through experimentation. We distinguish two cases: <OL> <LI>the decision to be...</li></ol>