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ID 35234
本文ファイル
著者
キーワード
Capital market integration
Unemployment risk
Labor market policies
Tax competition
JEL Classification Numbers: F21
JEL Classification Numbers: F66
JEL Classification Numbers: H26
JEL Classification Numbers: J63
JEL Classification Numbers: J65
NDC
社会科学
抄録(英)
This study analyzes the effect of capital markets integration on labor market policies. To that end, it incorporates imperfect labor markets into a tax competition model. There exist two types of households, types 1 and 2, that are risk-averse. Each type of household is endowed with one unit of a worker. Additionally, households are endowed with capital. Type 2 households own lager amounts of capital than type 1 households. The government can choose the following policies: unemployment benefits and layoff, payroll, and capital subsidies or taxes. When capital markets are integrated, households can invest their capital in foreign capital markets. This study shows that the integration of capital markets leads to ine¢ cient policies under which labor productivity is high, but income inequality within a country and the risk of job loss are also high. As a result, the social welfare of each country in integrated capital markets is lower than in non-integrated capital markets.
掲載誌名
IDEC DP2 Series
3巻
9号
開始ページ
1
終了ページ
25
出版年月日
2013-12
出版者
広島大学大学院国際協力研究科
SelfDOI
言語
英語
NII資源タイプ
紀要論文
広大資料タイプ
学内刊行物(紀要等)
DCMIタイプ
text
フォーマット
application/pdf
著者版フラグ
publisher
部局名
国際協力研究科
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