| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1920 |
| DP1920 Determinants of International Migration: Empirical Evidence for Migration from Developing Countries to Germany | |
| Ralph Rotte; Michael Vogler | |
| 发表日期 | 1998-07-31 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | National budget deficits can create externalities through their effects on international interest rates. This paper examines the scope for fiscal rules restricting government borrowing for the case where government revenues (on the margin) stem from capital income taxation. There is no need to coordinate national borrowing, if governments have access to both a saving and an investment tax instrument. In the absence of a saving tax, however, national fiscal policies affect welfare abroad through the international interest rate. A reduction in first period deficits tied to increased government spending later is always welfare improving. Reducing first period deficits without further coordination of subsequent tax and spending policies will generally not improve welfare. |
| 主题 | International Macroeconomics |
| 关键词 | Deficits Fiscal rules |
| URL | https://cepr.org/publications/dp1920 |
| 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/531057 |
| 推荐引用方式 GB/T 7714 | Ralph Rotte,Michael Vogler. DP1920 Determinants of International Migration: Empirical Evidence for Migration from Developing Countries to Germany. 1998. |
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