Fiscal Policy Interdependence and Efficiency
AbstractThis paper uses a two-country overlapping generations model to study the international transmission of fiscal policy among open interdependent economies under free international capital mobility. With only lump-sum taxes and transfers, international transmission involves only pecuniary externalities: barring dynamic inefficiency, only distributional issues (intergenerational and international) are involved. With age-specific taxes and transfers, the ability to run deficits and issue debt does not enhance the choice set of the governments. Source-based taxes on the rentals from capital and residence-based taxes on all property income are also studi.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 419.
Date of creation: May 1990
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Other versions of this item:
- Willem H. Buiter & Kenneth M. Kletzer, 1990. "Fiscal Policy Interdependence and Efficiency," NBER Working Papers 3328, National Bureau of Economic Research, Inc.
- Buiter, W.H. & Kletzer, K.M., 1990. "Fiscal Policy Interdependence And Efficiency," Papers, Yale - Economic Growth Center 611, Yale - Economic Growth Center.
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- Philippe Thalmann & Lawrence Goulder & FranÃ§ois Delorme, 1996.
"Assessing the international spillover effects of capital income taxation,"
International Tax and Public Finance, Springer,
Springer, vol. 3(4), pages 449-478, October.
- Philippe THALMANN & Lawrence H. GOULDER & FranÃ§ois DELORME, 1994. "Assessing the International Spillover Effects of Capital Income Taxation," Cahiers de Recherches Economiques du DÃ©partement d'EconomÃ©trie et d'Economie politique (DEEP), UniversitÃ© de Lausanne, FacultÃ© des HEC, DEEP 9411, UniversitÃ© de Lausanne, FacultÃ© des HEC, DEEP.
- Willem H. Buiter & Kenneth M. Kletzer, 1995.
"Capital Mobility, Fiscal Policy and Growth under Self-Financing of Human Capital Formation,"
NBER Working Papers
5120, National Bureau of Economic Research, Inc.
- Willem H. Buiter & Kenneth M. Kletzer, 1995. "Capital Mobility, Fiscal Policy, and Growth under Self-Financing of Human Capital Formation," Canadian Journal of Economics, Canadian Economics Association, vol. 28(s1), pages 163-94, November.
- Buiter, Willem H & Kletzer, Kenneth, 1995. "Capital Mobility, Fiscal Policy and Growth Under Self-Financing of Human Capital Formation," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1179, C.E.P.R. Discussion Papers.
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