Fiscal competition for imperfectly-mobile labor and capital: A comparative dynamic analysis

• 成果类型: Article
• 署名作者: Wildasin, David E.
• 署名单位: University of Kentucky
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/j.jpubeco.2010.11.014
• 发表日期: 2011
• 页码: 1312-1321
• 关键词: Fiscal competition; Dynamic tax incidence

摘要

Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal policy with two imperfectly mobile productive resources. The intertemporal adjustments for both resources depend on complementarity/substitutability in production and the adjustment cost technologies for each, implying that the evaluation of the fiscal treatment of one resource must account for the simultaneous adjustment of both. (C) 2010 Elsevier B.V. All rights reserved.