The international ramifications of tax reforms: supply-side economics in a global economy

Article Abstract:

A two-country dynamic macroeconomic model is derived to analyze the impact of tax reforms in the US and Europe. It is shown that replacing capital income tax with a consumption tax in the US can yield net welfare gains as high as 34% coupled with a decline in European consumption and leisure. On the other hand, the taxation of foreign interest decreases US welfare by 0.7% and increases European welfare by 1.8%.

Tax Law, Public Finance Activities, Europe, International aspects, Tax reform, Tax policy

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Interest rate interactions in the classical gold standard, 1880-1914: was there any monetary independence?

Article Abstract:

Classical gold standard method using a newly created monthly data base for the period 1880-1914 is employed to test the hypothesis of Svensson that a credible target zone can confer on a country a dgree of independence in the operation of its monetary policy, even when exchange rates are fixed.

Science & research, Commodity & service prices, Research, Prices and rates, Monetary policy, Company pricing policy

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Why hasn't tax competition triggered a race to the bottom? Some quantitative lessons from the EU

Article Abstract:

Neoclassical general equilibrium model to examine the effects of capital income tax competition and tax coordination between United Kingdom and France, Germany and Italy is presented.

Italy, France, Models, Comparative analysis, Neoclassical economics, Austrian school of economics, Capital levy, Capital taxes

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