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Discussion Paper Details

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Title: Ramsey Taxation in the Global Economy

Author(s): V. V. Chari, Juan Pablo Nicolini and Pedro Teles

Publication Date: February 2018

Keyword(s): border adjustment, Capital income tax, free trade, origin- and destination-based taxation, production e and value-added taxes

Programme Area(s): International Macroeconomics and Finance

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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Bibliographic Reference

Chari, V, Nicolini, J and Teles, P. 2018. 'Ramsey Taxation in the Global Economy'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=12753