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Labor Mobility and Fiscal Coordination

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  • Assaf Razin
  • Chi-Wa Yuen

Abstract

Using a human capital based growth model, we show the essential role of labor mobility and cross-country tax harmonization in equalizing income levels of countries that start off from different initial income positions. Knowledge spillovers cum labor mobility are the driving forces behind the income level equalization process. In the absence of tax harmonization within an economic union, equality in income levels is not achievable. Coordination of educational subsidies necessary for the internalization of knowledge spillovers may or may not be necessary. These considerations constitute the basis for our efficient growth agenda for an economic union such as the EU.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5433.

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Date of creation: Jan 1996
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Publication status: published as Journal of Public Economics, 1997.
Handle: RePEc:nbr:nberwo:5433

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  1. Frenkel, Jacob A & Razin, Assaf, 1986. "Fiscal Policies in the World Economy," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 94(3), pages 564-94, June.
  2. Bayoumi, Tamim & Masson, Paul R., 1995. "Fiscal flows in the United States and Canada: Lessons for monetary union in Europe," European Economic Review, Elsevier, Elsevier, vol. 39(2), pages 253-274, February.
  3. Mendoza, Enrique G. & Razin, Assaf & Tesar, Linda L., 1994. "Effective tax rates in macroeconomics: Cross-country estimates of tax rates on factor incomes and consumption," Journal of Monetary Economics, Elsevier, Elsevier, vol. 34(3), pages 297-323, December.
  4. Eichengreen, Barry, 1990. "One Money for Europe? Lessons from the US Currency Union," Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley qt6ks1k831, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  5. Andrew Atkeson & Tamim Bayoumi, 1993. "Do private capital markets insure regional risk? Evidence from the United States and Europe," Open Economies Review, Springer, Springer, vol. 4(3), pages 303-324, September.
  6. Gary S. Becker & Robert J. Barro, 1986. "A Reformulation of the Economic Theory of Fertility," NBER Working Papers 1793, National Bureau of Economic Research, Inc.
  7. Blanchard, Olivier & Jimeno, Juan F, 1995. "Structural Unemployment: Spain versus Portugal," American Economic Review, American Economic Association, American Economic Association, vol. 85(2), pages 212-18, May.
  8. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, Elsevier, vol. 22(1), pages 3-42, July.
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Citations

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Cited by:
  1. Razin, A & Yuen, C-W, 1997. "Income Convergence Within an Economic Union : The Role of Factor Mobility and Coordination," Papers, Tel Aviv 13-97, Tel Aviv.
  2. Uwe Walz, 1997. "Dynamic Effects of Economic Integration: A Survey," Open Economies Review, Springer, Springer, vol. 8(3), pages 309-326, July.
  3. Junior Davis & Dirk Bezemer, 2005. "Key emerging and conceptual issues in the development of the rural non-farm economy in developing countries and transition economies," Development and Comp Systems 0510017, EconWPA.

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