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Global Competition for Mobile Resources: Implications for Equity, Efficiency and Political Economy

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  • David E. Wildasin

Abstract

International integration of markets for labor and capital has far-reaching policy implications in economies where governments pursue extensive programs of redistribution through tax and transfer policies. The large fiscal impacts that result from movement of high- and low-income populations, as well as of capital, affect the benefits, costs, and political payoffs of redistributive policies, creating incentives for fiscal competition that may limit the extent of redistribution over time. Migration and capital flows are dynamic adjustment mechanisms, analysis of which can shed light on the consequences of structural changes such as globalization of factor markets and EU enlargement. (JEL codes: H0, J0) Copyright 2006, Oxford University Press.

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Article provided by CESifo in its journal CESifo Economic Studies.

Volume (Year): 52 (2006)
Issue (Month): 1 (March)
Pages: 61-110

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Handle: RePEc:oup:cesifo:v:52:y:2006:i:1:p:61-110

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References

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Citations

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Cited by:
  1. Francis Bloch & Unal Zenginobuz, 2012. "Oates' Decentralization Theorem with Household Mobility," Working Papers hal-00657823, HAL.
  2. Wildasin, David E., 2007. "Pre–Emption: Federal Statutory Intervention in State Taxation," National Tax Journal, National Tax Association, vol. 60(3), pages 649-62, September.
  3. Eloi Laurent, 2007. "From Competition to Constitution: Races to Bottoms and the Rise of ‘Shadow’ Social Europe," Sciences Po publications 137, Sciences Po.
  4. Hikaru Ogawa & David E. Wildasin, 2009. "Think Locally, Act Locally: Spillovers, Spillbacks, and Efficient Decentralized Policymaking," American Economic Review, American Economic Association, vol. 99(4), pages 1206-17, September.
  5. Bierbrauer, Felix & Brett, Craig & Weymark, John A., 2013. "Strategic nonlinear income tax competition with perfect labor mobility," Games and Economic Behavior, Elsevier, vol. 82(C), pages 292-311.
  6. Christos Kotsogiannis & Robert Schwager, 2006. "Fiscal Equalization and Yardstick Competition," Working Papers 2006-15, University of Kentucky, Institute for Federalism and Intergovernmental Relations.
  7. David E. Wildasin, 2009. "Fiscal Competition for Imperfectly-Mobile Labor and Capital: A Comparative Dynamic Analysis," CESifo Working Paper Series 2808, CESifo Group Munich.
  8. Robin Boadway & Jean-Francois Tremblay, 2006. "A Theory of Vertical Fiscal Imbalance," Working Papers 1072, Queen's University, Department of Economics.
  9. repec:spo:wpecon:info:hdl:2441/3530 is not listed on IDEAS

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