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Coalition-enhancing fiscal policies in an open economy: A CES framework of Gale's transfer paradox

The motivation of our paper comes from David Gale's seminal work in 1974. He constructed an example of the "transfer paradox" based on three Leontief functions. The transfer paradox is that when there is a set of agents in the home country and that the home country is trading with other countries, t... Full description

Journal Title: Journal of Mathematical Economics Jan 2014, Vol.50, p.141
Main Author: Kang, Minwook
Other Authors: Ye, Lei
Format: Electronic Article Electronic Article
Language: English
Subjects:
Quelle: © ProQuest LLC All rights reserved
ID: ISSN: 03044068 ; E-ISSN: 18731538
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title: Coalition-enhancing fiscal policies in an open economy: A CES framework of Gale's transfer paradox
format: Article
creator:
  • Kang, Minwook
  • Ye, Lei
subjects:
  • Fiscal Policy
  • Utility Functions
  • Elasticity
  • Studies
  • Agency Theory
  • Mathematical Functions
  • Taxation Economics
  • Economic Theory
  • Experiment/Theoretical Treatment
ispartof: Journal of Mathematical Economics, Jan 2014, Vol.50, p.141
description: The motivation of our paper comes from David Gale's seminal work in 1974. He constructed an example of the "transfer paradox" based on three Leontief functions. The transfer paradox is that when there is a set of agents in the home country and that the home country is trading with other countries, then certain public lump-sum tax transfer plans could make all agents in the home country better off. Our contributions are as follows. First, we show that such an example can be constructed with three smooth CES utility functions. Second, we establish the three crucial conditions for the existence of the transfer paradox: (1) the donor (a taxpayer) has stronger preference for the foreign good than the recipient; (2) the donor is ex-ante wealthier than the recipient; (3) the elasticity of substitution of the foreign country's preference is strictly less than one. [PUBLICATION ]
language: eng
source: © ProQuest LLC All rights reserved
identifier: ISSN: 03044068 ; E-ISSN: 18731538
fulltext: no_fulltext
issn:
  • 03044068
  • 0304-4068
  • 18731538
  • 1873-1538
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identifierISSN: 03044068 ; E-ISSN: 18731538
subjectFiscal Policy ; Utility Functions ; Elasticity ; Studies ; Agency Theory ; Mathematical Functions ; Taxation Economics ; Economic Theory ; Experiment/Theoretical Treatment
descriptionThe motivation of our paper comes from David Gale's seminal work in 1974. He constructed an example of the "transfer paradox" based on three Leontief functions. The transfer paradox is that when there is a set of agents in the home country and that the home country is trading with other countries, then certain public lump-sum tax transfer plans could make all agents in the home country better off. Our contributions are as follows. First, we show that such an example can be constructed with three smooth CES utility functions. Second, we establish the three crucial conditions for the existence of the transfer paradox: (1) the donor (a taxpayer) has stronger preference for the foreign good than the recipient; (2) the donor is ex-ante wealthier than the recipient; (3) the elasticity of substitution of the foreign country's preference is strictly less than one. [PUBLICATION ]
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titleCoalition-enhancing fiscal policies in an open economy: A CES framework of Gale's transfer paradox
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abstractThe motivation of our paper comes from David Gale's seminal work in 1974. He constructed an example of the "transfer paradox" based on three Leontief functions. The transfer paradox is that when there is a set of agents in the home country and that the home country is trading with other countries, then certain public lump-sum tax transfer plans could make all agents in the home country better off. Our contributions are as follows. First, we show that such an example can be constructed with three smooth CES utility functions. Second, we establish the three crucial conditions for the existence of the transfer paradox: (1) the donor (a taxpayer) has stronger preference for the foreign good than the recipient; (2) the donor is ex-ante wealthier than the recipient; (3) the elasticity of substitution of the foreign country's preference is strictly less than one. [PUBLICATION ABSTRACT]
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urlhttp://search.proquest.com/docview/1499022594/
date2014-01-01