NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Fiscal Policy Interdependence and Efficiency

Willem H. Buiter, Kenneth M. Kletzer

NBER Working Paper No. 3328
Issued in April 1990
NBER Program(s):   ITI   IFM

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.

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Document Object Identifier (DOI): 10.3386/w3328

Published: 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.

 
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