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Disziplinierung der nationalen Wirtschaftspolitik: durch die internationale Kapitalmobilität

  • Siebert, Horst
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The paper discusses the impact of high capital mobility for monetary and budget policy as well as for the Provision of public goods, for taxation, for wage policy and trade unions, for distribution policy, and for social security Systems. The mobility of porrfolio capital puts additional restraints on monetary and fiscal policy of governments, the mobility of real capital restricts the maneuvering space of governments (in redefining the opportunity costs of government decisions in open economies). It is shown that competition between governments does not degenerate but serves as a mechanism to reduce costs and to discover new institutional arrangements.

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File URL: http://econstor.eu/bitstream/10419/983/1/236372750.pdf
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Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 832.

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Date of creation: 1997
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Handle: RePEc:kie:kieliw:832
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  1. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
  2. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476.
  3. Feld, Lars P. & Kirchgässner, Gebhard, 1995. "Fiskalischer Wettbewerb in der EU: Wird der Wohlfahrtsstaat zusammenbrechen?," Wirtschaftsdienst – Zeitschrift für Wirtschaftspolitik (1949 - 2007), ZBW – German National Library of Economics / Leibniz Information Centre for Economics, vol. 75(10), pages 562-568.
  4. Lindbeck, A, 1996. "The West European Employment Problem," Papers 616, Stockholm - International Economic Studies.
  5. Assar Lindbeck & Dennis Snower, 1996. "Centralised Bargaining, Multitasking and Work Incentives," Archive Discussion Papers 9624, Birkbeck, Department of Economics, Mathematics & Statistics.
  6. Alan M. Taylor, 1996. "International Capital Mobility in History: The Saving-Investment Relationship," NBER Working Papers 5743, National Bureau of Economic Research, Inc.
  7. Maurice Obstfeld, 1994. "International capital mobility in the 1990s," International Finance Discussion Papers 472, Board of Governors of the Federal Reserve System (U.S.).
  8. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
  9. Martin Feldstein, 1994. "Tax Policy and International Capital Flows," NBER Working Papers 4851, National Bureau of Economic Research, Inc.
  10. Alan M. Taylor, 1996. "International Capital Mobility in History: Purchasing-Power Parity in the Long Run," NBER Working Papers 5742, National Bureau of Economic Research, Inc.
  11. Eichengreen, Barry & Rose, Andrew & Wyplosz, Charles, 1996. " Contagious Currency Crises: First Tests," Scandinavian Journal of Economics, Wiley Blackwell, vol. 98(4), pages 463-84, December.
  12. Siebert, Horst & Koop, Michael J., 1993. "Institutional competition versus centralization: Quo vadis Europe?," Kiel Working Papers 548, Kiel Institute for the World Economy (IfW).
  13. Siebert, Horst, 1996. "On the concept of locational competition," Kiel Working Papers 731, Kiel Institute for the World Economy.
  14. Barro, Robert J. & Gordon, David B., 1983. "Rules, discretion and reputation in a model of monetary policy," Journal of Monetary Economics, Elsevier, vol. 12(1), pages 101-121.
  15. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-29, June.
  16. Sinn, Stefan, 1992. "Saving-Investment Correlations and Capital Mobility: On the Evidence from Annual Data," Economic Journal, Royal Economic Society, vol. 102(414), pages 1162-70, September.
  17. repec:hhs:iuiwop:466 is not listed on IDEAS
  18. Eichengreen, Barry & Rose, Andrew K & Wyplosz, Charles, 1996. "Contagious Currency Crises," CEPR Discussion Papers 1453, C.E.P.R. Discussion Papers.
  19. Bucovetsky, Sam & Wilson, John Douglas, 1991. "Tax competition with two tax instruments," Regional Science and Urban Economics, Elsevier, vol. 21(3), pages 333-350, November.
  20. Blankart, Charles Beat, 1996. "Braucht Europa mehr zentralstaatliche Koordination? Einige Bemerkungen zu Hans-Werner Sinn," Wirtschaftsdienst – Zeitschrift für Wirtschaftspolitik (1949 - 2007), ZBW – German National Library of Economics / Leibniz Information Centre for Economics, vol. 76(2), pages 87-91.
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