TY  - JOUR
AU  - Buiter,Willem H.
AU  - Kletzer,Kenneth M.
TI  - Fiscal Policy Interdependence and Efficiency
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3328
PY  - 1990
Y2  - April 1990
UR  - http://www.nber.org/papers/w3328
L1  - http://www.nber.org/papers/w3328.pdf
N1  - Author contact info:
Willem H. Buiter
Citigroup Centre
Canada Square, Canary Wharf
London E14 5LB
UNITED KINGDOM
E-Mail: willembuiter@btinternet.com

Kenneth Kletzer
University of California, Santa Cruz
Department of Economics
217 Social Sciences 1
Santa Cruz, CA  95064
Tel: 408-459-3407
E-Mail: kkletzer@cats.ucsc.edu
AB  - 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.
ER  -