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Factor endowments and welfare levels in an asymmetric tax competition game

机译:非对称税收竞争博弈中的要素end赋和福利水平

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摘要

This paper addresses capital tax competition among an arbitrary number of countries. Countries are asymmetric not only in their population endowment but also in their capital endowment per inhabitant. National governments tax capital and labor in order to finance a fixed public budget. Asymmetric capital taxation arises at equilibrium leading to a distortion on the international capital market. We fully characterize how equilibrium taxes and welfare levels depend upon countries' population and capital endowments. We compare it to the autarky situation and show that fiscal competition erodes some, but not all, of the gains from capital markets liberalization.
机译:本文讨论了任意国家之间的资本税竞争。各国不仅在人口end赋上而且在每个居民的资本end赋上都是不对称的。各国政府对资本和劳动力征税,以资助固定的公共预算。不对称的资本税在均衡时产生,导致国际资本市场的扭曲。我们充分描述了均衡税收和福利水平如何取决于国家的人口和资本end赋。我们将其与自给自足的情况进行比较,并表明财政竞争侵蚀了资本市场自由化的部分收益,但不是全部。

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