Arbeitspapier
Customs unions and national budgets
It is shown that the Dixit-Norman argument for the creation of an optimal customs union without lump sum transfers presupposes either that there exists a joint fiscal authority in the union or that lump sum transfers between national governments are possible. A necessary and sufficient condition for the decentralized implementation of the optimal union is derived. This condition is related to the old discussion of trade creation vs. trade diversion. The other contribution of the paper is to extend the Dixit-Norman argument to customs unions with factor mobility i.e. to common markets.
- Sprache
-
Englisch
- ISBN
-
951-686-164-4
- Erschienen in
-
Series: Bank of Finland Discussion Papers ; No. 18/1988
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Haaparanta, Pertti
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Finland
- (wo)
-
Helsinki
- (wann)
-
1988
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:21 MESZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Haaparanta, Pertti
- Bank of Finland
Entstanden
- 1988