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Federal Reserve Bank of Minneapolis
Working Papers
Ramsey Taxation in the Global Economy
V. V. Chari
Juan Pablo Nicolini
Pedro Teles
Abstract

We study cooperative optimal Ramsey equilibria in the open economy addressing classic policy questions: Should restrictions be placed to free trade and capital mobility? Should capital income be taxed? Should goods be taxed based on origin or destination? What are desirable border adjustments? How can a Ramsey allocation be implemented with residence-based taxes on assets? We characterize optimal wedges and analyze alternative policy implementations.


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V. V. Chari & Juan Pablo Nicolini & Pedro Teles, Ramsey Taxation in the Global Economy, Federal Reserve Bank of Minneapolis, Working Papers 745, 11 Dec 2017.
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Keywords: Capital income tax; Free trade; Value-added taxes; Border adjustment; Origin- and destination-based taxation; Production efficiency
DOI: 10.21034/wp.745
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