Capital privado y competencia internacional: la armonización fiscal nunca es suficiente
AbstractThis paper analyzes the international transmission of the fiscal policy when the public expenditure presents a positive externality on the private factors of production, capital and labor. We propose a general equilibrium model with N symmetric countries where there exists perfect mobility in private capital but not in labor. The results show that a fiscal expansion generates a "crowding-out" effect on capital of the neighbor countries. Whenever the number of countries is large enough, an increase in public expenditure always causes a "crowding-in" on the domestic private capital. (Copyright: Fundación Empresa Pública)
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Bibliographic InfoArticle provided by Fundación SEPI in its journal Investigaciones Economicas.
Volume (Year): 26 (2002)
Issue (Month): 2 (May)
Contact details of provider:
Postal: Investigaciones Economicas Fundación SEPI Quintana, 2 (planta 3) 28008 Madrid Spain
Web page: http://www.fundacionsepi.es/
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
- H5 - Public Economics - - National Government Expenditures and Related Policies
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