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Autoren: 
Bertola, Giuseppe
Datum: 
2017
Schriftenreihe/Nr.: 
CESifo Working Paper No. 6627
Zusammenfassung: 
This paper proposes a stylized model of policy determination and imperfect international integration. A country-specific policy wedge corrects labor market imperfections and/or redistributes welfare across differently wealthy agents. Capital market integration with the rest of the world, indexed by another wedge, shapes the politico-economic equilibrium policy through race-to-the-bottom and beggar-thy-neighbor channels. The policy and welfare implications of tighter international integration depend in sharp and empirically realistic ways on country-specific political and structural features.
Schlagwörter: 
policy competition
capital mobility
JEL: 
F02
D33
J08
Dokumentart: 
Working Paper

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