We estimate the political economy determinants of budget deficit forecast errors. Since the adoption of the Stability Pact, Eurozone governments have manipulated forecasts before elections. The political orientation and the institutional design of governments also affects the quality of forecasts. JEL classifications: H62, H87, C23, C53, E62

Mycobacterium avium subsp. hominissuis is an environmentally acquired bacterium known to cause pulmonary and soft tissue infections, lymphadenitis, and disseminated disease in humans. We report here the complete genome sequence of strain H87, isolated from an indoor water sample, as a single circular chromosome of 5,626,623 bp with a G+C content of 68.8%.

This paper uses all value-added tax (VAT) changes across EU Member States from 1988 to 2016 estimate the effect of VATs on trade flows. We find small elasticities flows with respect VATs, even when VAT are large. These substantially smaller than tariffs estimated in literature. finding holds different time periods, countries, and types reforms. Our results imply that unlikely distort (JEL F13, ...

This paper studies corporate tax competition if it is costly to learn some of the elements that determine the e¤ective tax burden. Search cost may, but need not, eliminate the tax competition pressure. The outcome depends on the boundaries of tax rate and tax base choices. Search cost can explain the empirically observed tax cuts cum base broadening. Keywords: Costly search, tax competition, co...

We show that the fiscal authorities of high-tax countries can lack incentives to combat profit shifting tax havens. Instead, they have focus their enforcement efforts on relocating profits booked by multinationals in other countries, crowding out transactions shift havens, and reducing global payments multinational companies. The predictions our model are motivated supported analysis two new da...

Residual profit allocation (RPA) schemes have come to prominence in discussions of international tax reform but with almost nothing known about their economic impact. These multinationals by allocating “routine” profits source countries and sharing remaining “residual” across on some formulaic basis. This paper explores the implications, conceptual empirical, moving form RPA. are estimated be s...

Should polio be eradicated worldwide, countries must decide whether to continue to vaccinate with the live-attenuated vaccine, to continue to vaccinate with the alternative, killed vaccine, or to cease vaccinating. To reap a dividend from polio eradication, countries must choose the last option, but vaccination cessation entails interdependent risks as well as rewards. This article models the p...

In this paper the concept of tax co-ordination within the European Union (EU) is discussed, in view of the coming enlargement of the EU. The tax externalities that possibly arise in a single market are analysed, as well as the ways these externalities can be prevented or internalised. These theoretical reflections are placed alongside the actual system of tax co-ordination within the EU. Focusi...

When multinational firms expand their operations in tax havens, do they divert activity from non-havens? Much of the debate on tax competition presumes that the answer to this question is yes. This paper offers a model for examining the relationship between activity in havens and non-havens, and discusses the implications of recent evidence in light of that model. Properly interpreted, the evid...

This paper reviews the recent theoretical literature that analyses the European Union’s policy to eliminate preferential corporate tax regimes and the proposal to introduce a consolidated EU tax base with formula apportionment for the taxation of multinational firms. Since neither proposal includes a harmonisation of corporate tax rates, a core issue is how tax competition between member states...