Suchergebnisse

This paper tackles the issue of international fiscal coordination in a world of integrated markets sovereign national governments. Taxation of mobile capital and immobile labor in order to finance a public good generates inefficient fiscal competition. Two fiscal reforms are considered: a minimum capital tax level and a tax range, i.e., a minimum plus a maximum capital tax level. We show that the introduction of a lower bound to the capital tax level is never preferred to fiscal competition by all countries while there always exists a combination of both a lower and an upper bound which is unanimously accepted.

ABSTRACT - Over the recent years, decentralization has been adopted in many health systems. The question however remains of whether local actors do better than the central government. We summarize the main insights from economic theory on the impact of decentralization and its empirical validation. Theory suggests that the decision to decentralize results from a trade-off between its advantages (like its capacity to cater to local tastes) and costs (like inter-regional spillovers). Empirical contributions point that decentralization results in better health outcomes and higher expenditures, resulting in ambiguous consequences on efficiency; equity consequences are controversial and address the relevance of redistribution mechanisms. ; RESUMO - Apesar de muitos sistemas de saúde terem optado recentemente pela descentralização, fica por esclarecer se os governos locais têm um melhor desempenho do que os centrais. Este artigo sumariza os principais resultados da teoria económica sobre o impacto da descentralização e a sua validade empírica. A decisão de descentralizar resulta duma arbitragem entre as vantagens, como a adaptação às preferências, e os inconvenientes, como as externalidades inter-regionais. Os estudos empíricos sugerem que a descentralização permite ganhos em saúde mas também despesas maiores, com consequências ambíguas em termos de eficiência, e que as consequências para a equidade, sendo controversas, indicam a relevância dos mecanismos de redistribuição. ; info:eu-repo/semantics/publishedVersion

A B S T R A C T – Over the recent years, decentralization has been adopted in many health systems. Thequestion however remains of whether local actors do better than the central government.We summarize the main insights from economic theory on the impact of decentraliza-tion and its empirical validation. Theory suggests that the decision to decentralize resultsfrom a trade-off between its advantages (like its capacity to cater to local tastes) and costs(like inter-regional spillovers). Empirical contributions point that decentralization results inbetter health outcomes and higher expenditures, resulting in ambiguous consequences onefficiency; equity consequences are controversial and address the relevance of redistributionmechanisms. ; R E S U M O - Apesar de muitos sistemas de saúde terem optado recentemente pela descentralização, fica por esclarecer se os governos locais têm um melhor desempenho do que os centrais. Este artigo sumariza os principais resultados da teoria económica sobre o impacto da descentralização e a sua validade empírica. A decisão de descentralizar resulta duma arbitragem entre as vantagens, como a adaptação às preferências, e os inconvenientes, como as externalidades inter-regionais. Os estudos empíricos sugerem que a descentralização permite ganhos em saúde mas também despesas maiores, com consequências ambíguas em termos de eficiência, e que as consequências para a equidade, sendo controversas, indicam a relevância dos mecanismos de redistribuição. ; info:eu-repo/semantics/publishedVersion

This paper analyses human security in Portugal, and how it interact with inequality. We use representative survey data to discuss the individual determinants of several dimensions of human security that go beyond the narrow conception of the absence of physical threats, into a multidimensional perspective, encompassing environmental security, and living conditions. Albeit Portugal is one of the safest countries in the world, we document that women, low income groups, the elderly and younger people often feel less safe. We show, however, that in a broader perspective, Portugal fares less well, as income, food, housing and health security are, in many cases, higher in the country than in many other European Union countries

This paper presents a fiscal competition model in which policy decisions are not only corporate taxes but also whether or not to control the multinational firms'(MNF) profit shifting activities. MNFs manipulate transfer prices as a means to shift profits from high to low tax countries. National governments may hinder such a behavior by monitoring the MNF's accounts. We show that a country may optimally decide not to monitor the MNF for two different reasons. On the one hand, that makes it an attractive location for the MFN even if the corporate tax is high. On the other hand, not monitoring increases the mobility of the MFN's profits. This shifts the focus of tax competition in that corporate taxation then influences not only the MNF's location as the place where it declares its profits.

This paper presents a fiscal competition model in which policy decisions are not only corporate taxes but also whether or not to control the multinational firms'(MNF) profit shifting activities. MNFs manipulate transfer prices as a means to shift profits from high to low tax countries. National governments may hinder such a behavior by monitoring the MNF's accounts. We show that a country may optimally decide not to monitor the MNF for two different reasons. On the one hand, that makes it an attractive location for the MFN even if the corporate tax is high. On the other hand, not monitoring increases the mobility of the MFN's profits. This shifts the focus of tax competition in that corporate taxation then influences not only the MNF's location as the place where it declares its profits.

This paper uses novel and comprehensive data on electronic payments from SIBS, the main provider of point of sale terminals and on-line payments in Portugal, to study the impact of the Great Lockdown on purchases. The data aggregates all individual transactions into monthly observations, by municipality and sector, between 2018 and 2020. We employ a difference-in-differences event study that relies on the assumption that the monthly evolution of purchases in the first four months of 2020 would be parallel to that of the two previous years. We identify a massive causal impact on overall purchases, from a baseline year-on-year monthly growth rate of 10% to a decrease of 45%. The sign and magnitude of the impact varies considerably across sectors. Purchases of essential goods such as supermarkets and groceries increase mildly, contrasting with severe contractions in sectors that were closed by government order or depend heavily on tourism, including the leisure industry and restaurants. We find suggestive evidence of initial stockpiling of goods, postponing of essential expenditures, and rapid recovery of purchases in tech and entertainment, possibly to adapt to the confinement. Transactions with foreign-owned cards cause an even greater negative contraction. We disentangle the total effect into the intensive margin of the average transaction and the extensive margin of the number of transactions. Buyers adjust their shopping strategies in rational ways to minimize public health risks: they go less often to supermarkets and buy more each time, and visit local groceries more. ; publishersversion ; published

This paper uses novel and comprehensive data on electronic payments from SIBS, the main provider of point of sale terminals and on-line payments in Portugal, to study the impact of the Great Lockdown on purchases. The data aggregates all individual transactions into monthly observations, by municipality and sector, between 2018 and 2020. We employ a difference-in-differences event study that relies on the assumption that the monthly evolution of purchases in the first four months of 2020 would be parallel to that of the two previous years. We identify a massive causal impact on overall purchases, from a baseline year-on-year monthly growth rate of 10% to a decrease of 45%. The sign and magnitude of the impact varies considerably across sectors. Purchases of essential goods such as supermarkets and groceries increase mildly, contrasting with severe contractions in sectors that were closed by government order or depend heavily on tourism, including the leisure industry and restaurants. We find suggestive evidence of initial stockpiling of goods, postponing of essential expenditures, and rapid recovery of purchases in tech and entertainment, possibly to adapt to the confinement. Transactions with foreign-owned cards cause an even greater negative contraction. We disentangle the total effect into the intensive margin of the average transaction and the extensive margin of the number of transactions. Buyers adjust their shopping strategies in rational ways to minimize public health risks: they go less often to supermarkets and buy more each time, and visit local groceries more. ; info:eu-repo/semantics/published

Young voters' political behaviour differs from the rest of the electorate in that they exhibit lower turnout and express different preferences. This article examines the impact of information provision about central government on young voters' perception of government performance and their voting behaviour. We randomly exposed a sample of university students to positive, neutral or negative information before the 2017 Portuguese local elections. Treated voters update their perceptions, more so when exposed to negative news. This negativity bias is stronger for first-time voters. We find no evidence of an average treatment effect on voting behaviour, but negative information significantly affects initially undecided voters. Our results indicate that sensitivity to information is heterogeneous and that some young voters may be more prone to manipulation through the provision of negative news. ; info:eu-repo/semantics/published