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Fiscal Competition for Imperfectly-Mobile Labor and Capital: A Comparative Dynamic Analysis


David E. Wildasin


University of Kentucky; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Institute for the Study of Labor (IZA)
September 2009

CESifo Working Paper Series No. 2808

Abstract:     
Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal policy with two imperfectly mobile productive resources. The intertemporal adjustments for both resources depend on complementarity/substitutability in production and the adjustment cost technologies for each, implying that the evaluation of the fiscal treatment of one resource must account for the simultaneous adjustment of both.

Number of Pages in PDF File: 39

Keywords: fiscal competition, labor mobility, capital mobility, comparative dynamics

JEL Classification: B23, H22, H71, H87, J61

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Date posted: October 12, 2009  

Suggested Citation

Wildasin, David E., Fiscal Competition for Imperfectly-Mobile Labor and Capital: A Comparative Dynamic Analysis (September 2009). CESifo Working Paper Series No. 2808. Available at SSRN: http://ssrn.com/abstract=1484559

Contact Information

David E. Wildasin (Contact Author)
University of Kentucky ( email )
Lexington, KY 40546
United States
CESifo (Center for Economic Studies and Ifo Institute for Economic Research)
Poschinger Str. 5
Munich, DE-81679
Germany
Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
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