@techreport{NBERw3328,
 title = "Fiscal Policy Interdependence and Efficiency",
 author = "Willem H. Buiter and Kenneth M. Kletzer",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "3328",
 year = "1990",
 month = "April",
 URL = "http://www.nber.org/papers/w3328",
 abstract = {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.},
}