Fiscal Policy Interdependence and Efficiency
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 studied.
|Date of creation:||Apr 1990|
|Publication status:||published as Buiter, Willem H. and Kenneth M. Kletzer. "Fiscal Policy Coordination As Fiscal Federalism: Economic Integration, Public Goods And Efficiency In Growing Economies," European Economic Review, 1992, v36(2/3), 647-653.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
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- Maurice Obstfeld, 1988.
"Fiscal Deficits and Relative Prices in a Growing World Economy,"
NBER Working Papers
2725, National Bureau of Economic Research, Inc.
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- Andrew Abel & Gregory N. Mankiw & Lawrence H. Summers & Richard Zeckhauser, "undated".
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Rodney L. White Center for Financial Research Working Papers
14-88, Wharton School Rodney L. White Center for Financial Research.
- anonymous, 1987. "External debt issues," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 50, june.
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