Name: Finance and Economics Discussion Series: Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation (en Inglés)
Price: 26.54 USD
Availability: InStock
Author: United States Federal Reserve Board ; Kim, Jinill ; Kim, Sunghyun Henry
ISBN: 9781288713875

portada Finance and Economics Discussion Series: Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation (en Inglés)

Finance and Economics Discussion Series: Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation (en Inglés)

Formato

Libro Físico

Autor

United States Federal Reserve Board

Jinill Kim

Sunghyun Henry Kim

Editorial

Bibliogov

Idioma

Inglés

N° páginas

Encuadernación

Tapa Blanda

Dimensiones

24.6 x 18.9 x 0.2 cm

Peso

0.08 kg.

ISBN13

9781288713875

Categorías

Política y gobierno

Finance and Economics Discussion Series: Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation (en Inglés)

United States Federal Reserve Board (Autor) · Jinill Kim (Autor) · Sunghyun Henry Kim (Autor) · Bibliogov · Tapa Blanda

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Reseña del libro "Finance and Economics Discussion Series: Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation (en Inglés)"

This paper studies an international tax policy design problem by employing a two-country dynamic general equilibrium model with incomplete asset markets. We investigate the possibility of welfareimproving active tax policies, in particular capital and labor income tax, under the non-cooperative Nash equilibrium and the cooperative equilibrium. Unlike the conventional wisdom regarding stabilization policies, optimal tax policies in our economy are procyclical. Relative to the non-cooperative setting, international tax policy cooperation requires more active tax policies (about two times) and generates large extra welfare gains (by about a third).