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L’imposition des revenus de l’investissement en Europe, une hétérogénéité coûteuse

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  • Gérard, Marcel

    (Facultés Universitaires Catholiques de Mons)

Abstract

Taxation of capital income on the European Union territory is characterised by the autonomy of parcelled jurisdictions on one hand, and by the integration of capital market on the other hand. Such a situation prepares the way for an interjurisdictional competition. Such competition is costly in terms of social welfare, due to the involved loss of tax revenue and the induced changes in the distribution of public finances' charge and in the allocation of governments' expenditures. In this article we first describe that situation; then we propose an analysis based on standard public finance theory, and, finally we discuss some avenues to abandon that costly heterogeneity. L’imposition des revenus du capital en Europe est caractérisée par l’autonomie de juridictions parcellisées d’une part, l’intégration du marché du capital d’autre part. Cette situation ouvre la voie à une concurrence entre juridictions coûteuse en termes de bien-être, tant du fait des pertes de recettes fiscales qu’elle implique, que des modifications qu’elle induit dans la distribution de la charge des dépenses publiques et l’allocation des dépenses des États. Dans cet article nous commençons par décrire cette situation, ensuite nous en proposons une analyse, lecture selon la grille du discours économique sur les finances publiques, enfin nous discutons quelques pistes pour sortir de cette hétérogénéité coûteuse.

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Bibliographic Info

Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

Volume (Year): 75 (1999)
Issue (Month): 1 (mars-juin-septembre)
Pages: 401-426

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Handle: RePEc:ris:actuec:v:75:y:1999:i:1:p:401-426

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  1. Chamley, Christophe, 1986. "Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives," Econometrica, Econometric Society, vol. 54(3), pages 607-22, May.
  2. Sinn, Hans-Werner, 1997. "The selection principle and market failure in systems competition," Munich Reprints in Economics 19854, University of Munich, Department of Economics.
  3. Kenneth McKenzie & Jack Mintz & Kimberly Scharf, 1997. "Measuring Effective Tax Rates in the Presence of Multiple Inputs: A Production Based Approach," International Tax and Public Finance, Springer, vol. 4(3), pages 337-359, July.
  4. Marchand, Maurice & Pestieau, Pierre & Wibaut, Serge, 1989. " Optimal Commodity Taxation and Tax Reform under Unemployment," Scandinavian Journal of Economics, Wiley Blackwell, vol. 91(3), pages 547-63.
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  7. Razin, Assaf & Sadka, Efraim, 1991. "International tax competition and gains from tax harmonization," Economics Letters, Elsevier, vol. 37(1), pages 69-76, September.
  8. Keen, M. & Marchand, M., . "Fiscal competition and the pattern of public spending," CORE Discussion Papers RP -1284, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  9. Gordon, R.H., 1990. "Can Capital Income Taxes Survive in an Open Economies," Working Papers 280, Research Seminar in International Economics, University of Michigan.
  10. Browning, Edgar K., 1994. "The non-tax wedge," Journal of Public Economics, Elsevier, vol. 53(3), pages 419-433, March.
  11. Roger H. Gordon, 1990. "Can Capital Income Taxes Survive in Open Economies?," NBER Working Papers 3416, National Bureau of Economic Research, Inc.
  12. Emerson, Michael, 1988. "Regulation or deregulation of the labour market : Policy regimes for the recruitment and dismissal of employees in the industrialised countries," European Economic Review, Elsevier, vol. 32(4), pages 775-817, April.
  13. Davide Fiaschi, 1996. "Fiscal policies and growth," Working Papers 261, Dipartimento Scienze Economiche, Universita' di Bologna.
  14. Frenkel, Jacob & razin, assaf & Yuen, chi-wa, 1996. "Fiscal policies and growth in the world economy," MPRA Paper 22109, University Library of Munich, Germany.
  15. repec:fth:michin:280 is not listed on IDEAS
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