סמינר מחלקתי: הרצאתו של Daniel Spiro, Department of Economics University of Oslo

סמינר מחלקתי- החוג למדיניות ציבורית

הרצאתו של:      Daniel Spiro

 Department of Economics University of Oslo

Finders, Keepers?

Niko Jaakkola, Daniel Spiro Arthur and A. van Benthem

NBER Working Paper

Abstract

Natural-resource taxation and investment exhibit cycles in a vast number of countries, driving political turmoil and power shifts. Using a rational-expectations model, we show cycles result from governments' inability to commit to future taxes and firms' inability to credibly exit a country indefinitely. A government sets a low initial tax inducing high investments, which in turn prompts it to increase taxes next period. This induces low investment thus low future taxes, and so on. We investigate which factors reinforce cycles and present ways of avoiding them, and document cycles across many countries including detailed case studies of two Latin-American countries

הסמינר יתקיים ביום  שלישי  1.5.18  בשעה 11.30

חדר  527

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