G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1455
DP1455 Vertical Product Differentiation and Entry Deterrence
Stefan Lutz
发表日期1996-08-31
出版年1996
语种英语
摘要This paper studies optimal redistribution among two different regions in a federal state. Regional governments supply local public goods financed by distorting local taxes. They have better information on their tax bases than the federal government. We model this both as an adverse selection problem relating to the size of local tax bases and/or as a moral hazard problem relating to local tax enforcement. Moral hazard alone does not affect the first-best redistribution rule, which is a lump sum transfer from the rich to the poor region. In all other cases the optimal transfer rule involves a lump sum tax on the rich regions and a premium for fiscal effort by the poor regions, with the transfer falling short of the first-best level. In the equilibrium with moral hazard and adverse selection, tax evasion occurs only in the poor region, even though the possibility of lax tax enforcement benefits the rich and harms the poor region because it reduces equilibrium redistribution.
主题International Macroeconomics
关键词Asymmetric information Fiscal federalism Intergovernmental grants Regional redistribution formula
URLhttps://cepr.org/publications/dp1455
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/530594
推荐引用方式
GB/T 7714
Stefan Lutz. DP1455 Vertical Product Differentiation and Entry Deterrence. 1996.
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