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on Public Economics |
| By: | Oliver Denk |
| Abstract: | Norway’s dual income tax system achieves high levels of revenue collection and income redistribution, without overly undermining economic performance and while paying attention to environmental externalities. It treats capital and labour income in different ways: capital income is taxed at a single low rate, while labour income is taxed at progressive rates. However, effective tax rates on savings vary widely across asset classes. The favourable treatment of owner-occupied housing relative to financial savings should be reduced, preferably by taxing imputed rents at the standard 28% statutory rate. The wealth tax implies very high effective tax rates on savings, indicating that it either gives rise to tax avoidance or significantly inhibits growth. The government should investigate the issue and, if the growth-equity trade-off is too unfavourable to growth, phase out or lower the wealth tax. To restrain tax avoidance by the wealthy, the base of the gift and inheritance tax should be broadened. Overall, the reform package recommended in this paper would improve the allocation of capital and increase work and investment incentives. It could be designed to be broadly neutral in regard to income redistribution and public revenue.<P>La réforme fiscale en Norvège : Privilégier l'imposition du capital<BR>En Norvège, le système d'imposition duale atteint d’excellents résultats en termes de recouvrement des recettes et de redistribution du revenu, sans pénaliser excessivement la performance économique et en prenant en compte les externalités environnementales. Ce système n’applique pas le même traitement aux revenus du capital et du travail : le revenu du capital est soumis à un taux d’imposition unique faible, tandis que celui du travail est taxé à des taux progressifs. Toutefois, les taux d’imposition effectifs de l’épargne varient beaucoup d’une catégorie d’actifs à l’autre. Le traitement favorable des logements occupés par leurs propriétaires devrait être réduit, de préférence en taxant leur valeur locative imputée au taux légal normal de 28 %. L’impôt sur la fortune entraîne des taux d’imposition effectifs de l’épargne très élevés, qui ouvrent la voie à l’évasion fiscale ou qui entravent significativement la croissance. Le gouvernement doit se pencher sur cette question et, si l’arbitrage entre croissance et équité est par trop défavorable à la croissance, éliminer progressivement l’impôt sur la fortune ou réduire son taux. Afin de restreindre les possibilités d’évasion fiscale de la part des contribuables les plus aisés, il faudrait élargir la base de l’impôt sur les donations et les successions. Dans l’ensemble, les réformes recommandées dans ce document amélioreraient la répartition du capital et renforceraient les incitations à travailler et à investir. Elles pourraient être conçues de façon à avoir un impact globalement neutre sur la redistribution des revenus et les recettes publiques. |
| Keywords: | Norway, taxation, capital taxation, own-occupied housing, dual income tax system, wealth tax, rate of return allowance, allowance for corporate equity, fiscalité, Norvège, double système d'imposition, imposition du capital, propriétaires occupants, impôt sur la fortune, taux de l'indemnité de retour, déduction pour capital de l'entreprise |
| JEL: | D9 H2 R21 R38 |
| Date: | 2012–04–03 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:950-en&r=pbe |
| By: | Gumpert, Anna; Hines Jr, James R; Schnitzer, Monika |
| Abstract: | This paper analyzes the tax haven investment behavior of multinational firms from a country that exempts foreign income from taxation. High foreign tax rates generally encourage firms to invest in tax havens, though significant costs of reallocating taxable income dampen these incentives. The behavior of German manufacturing firms from 2002-2008 is consistent with this prediction: at the mean, one percentage point higher foreign tax rates are associated with three percentage point greater likelihoods of owning tax haven affiliates. This contrasts with earlier evidence for U.S. firms subject to home country taxation, which are more likely to invest in tax havens if they face lower foreign tax rates. Foreign tax rates appear to be unrelated to tax haven investments of German firms in service industries, possibly reflecting the difficulty they face in reallocating taxable income. |
| Keywords: | Manufacturing FDI; Multinational Firms; Profit Shifting; Service FDI; Tax Avoidance; Tax Havens |
| JEL: | F23 H87 |
| Date: | 2012–04 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:8943&r=pbe |
| By: | Douglas Sutherland; Peter Hoeller; Rossana Merola |
| Abstract: | The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. Consolidating public finances in order to address the consequences of the crisis, underlying weaknesses and also future spending pressures creates important challenges. Fiscal consolidation requires choices to be made about how much consolidation is needed, how fast it should be implemented and which instruments should be used. Estimates of fiscal gaps suggest that substantial and sustained fiscal tightening will be needed in nearly all countries to bring debt down to prudent levels. However, given a weak global economy, implementing a large fiscal tightening could be particularly costly. Structuring consolidation packages to use instruments with low multipliers initially and enhancing the institutional framework for fiscal policy to lend greater credibility to the commitment to consolidate over time may help minimise the trade-offs with growth in the short run. In most countries there is scope to target spending programmes more effectively and eliminate distortions in taxation. Such measures, buttressed by structural reforms, such as to unsustainable pension systems, can underpin fiscal sustainability, while minimising the costs to long-run growth.<P>Consolidation budgétaire : Quelle ampleur, quel rythme et quels moyens ?<BR>La crise économique et financière a servi de catalyseur à une crise budgétaire qui submerge de nombreux pays de l’OCDE. Assainir les finances publiques pour faire face aux conséquences de la crise, aux faiblesses sous-jacentes ainsi qu’aux pressions futures sur les dépenses publiques représente un défi majeur pour bon nombre de pays. La consolidation budgétaire implique des choix quant à l’ampleur de la consolidation nécessaire, au rythme auquel elle doit être mise en œuvre et aux moyens à utiliser. Sur la base d’estimations des écarts budgétaires, il semble qu’il faudra un resserrement budgétaire important et durable dans presque tous les pays pour ramener la dette à des niveaux prudents. Cependant, compte tenu de la faiblesse de l’économie mondiale, la mise en œuvre d’un vaste programme de restriction budgétaire pourrait être particulièrement coûteuse. Structurer les programmes de consolidation de façon à utiliser au départ des instruments à multiplicateurs faibles et, à terme, à améliorer le cadre institutionnel de la politique budgétaire afin de rendre plus crédible l’engagement à assainir les finances publiques pourrait aider à réduire au minimum les arbitrages avec la croissance à court terme. Dans la plupart des pays, il est possible de cibler plus efficacement les programmes de dépenses et d’éliminer les distorsions de la fiscalité. Ces mesures, étayées par des réformes structurelles telles que la réforme des systèmes de retraite, qui ne sont plus tenables, peuvent soutenir la viabilité budgétaire tout en réduisant au minimum les coûts pour la croissance à long terme. |
| Keywords: | fiscal consolidation, fiscal gaps |
| JEL: | H62 H63 H68 |
| Date: | 2012–04–12 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaab:1-en&r=pbe |
| By: | Bernd Hayo (University of Marburg); Matthias Uhl (University of Marburg) |
| Abstract: | This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie between –0.2 in Utah and –3.3 in Hawaii. Statistically, the difference between state and national output effect is significant in about half the U.S. states. Analyzing the determinants of differences in the magnitude of regional tax multipliers suggests that industry composition of output and sociodemographic characteristics help explain the observed asymmetry across U.S. states in the transmission of federal tax policy. |
| Keywords: | Fiscal Policy Tax Policy Narrative Approach U.S. States Regional Effects Asymmetries in Fiscal Policy Transmission |
| JEL: | E32 E62 H20 R10 R11 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:mar:magkse:201217&r=pbe |
| By: | Piketty, Thomas; Saez, Emmanuel |
| Abstract: | This paper develops a realistic, tractable normative theory of socially-optimal capital taxation. We present a dynamic model of savings and bequests with heterogeneous random tastes for bequests to children and for wealth per se. We derive formulas for optimal tax rates on capitalized inheritance expressed in terms of estimable parameters and social preferences. The long-run optimal tax rate increases with the aggregate steady-state flow of inheritances to output, decreases with the elasticity of bequests to the net-of-tax rate, and decreases with the strength of preferences for leaving bequests. For realistic parameters, the optimal tax rate on capitalized inheritance should be as high as 50%-60% - or even higher for top wealth holders - if the government has meritocratic preferences (i.e., puts higher welfare weights on those receiving little inheritance) and if capital is highly concentrated (as it is in the real world). In contrast to the Atkinson-Stiglitz result, bequest taxation remains desirable in our model even with optimal labor taxation because inequality is two-dimensional: with inheritances, labor income is no longer the unique determinant of lifetime resources. In contrast to Chamley-Judd, positive capital taxation is desirable because our preferences allow for finite long run elasticities of inheritance to tax rates. Finally, we discuss how capital market imperfections and uninsurable shocks to rates of return can justify shifting one-off inheritance taxation toward lifetime capital taxation, and can account for the actual structure and mix of inheritance and capital taxation. |
| Keywords: | optimal taxation |
| JEL: | H10 |
| Date: | 2012–04 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:8946&r=pbe |
| By: | Andrés Rodríguez-Pose (IMDEA Social Sciences); Yannis Psycharis (Panteion University); Vassilis Tselios (University of Groningen) |
| Abstract: | This paper estimates the impact of public investment on regional economic growth and convergence at the NUTS III level in Greece. Using a new database of public expenditure per region for the period 1978-2007, it proposes a model which captures not just the impact of public investment in Greek prefectures, but also the spillover effects related to the existence of externalities from neighbouring regions. The results point to a positive long-run impact of public investment per capita on regional economic growth – but not on convergence – which also generates considerable spillover effects. However, the returns vary according to different types of public investment, with education and infrastructure spillovers having the highest impact. In general, public investment externalities seem to be more relevant for regional growth than direct public investment in each region. Finally, the impact of different types of public investment in Greece is mediated by politics and political factors, but the effect of politics disappears once we control for political-period-specific spatial-invariant variables. |
| Keywords: | public investment; economic growth; spillover effects; convergence; spatial econometrics; regional economics; regional policy; Greece |
| JEL: | R11 R12 R53 R58 |
| Date: | 2012–04–25 |
| URL: | http://d.repec.org/n?u=RePEc:imd:wpaper:wp2012-05&r=pbe |
| By: | Dimitri B. Papadimitriou; Greg Hannsgen; Gennaro Zezza |
| Abstract: | Though the economy appears to be gradually gaining momentum, broad measures indicate that 14.5 percent of the US labor force is unemployed or underemployed, not much below the 16.2 percent rate reached a full year ago. In this new report in our Strategic Analysis series, we first discuss several slow-moving factors that make it difficult to achieve a full and sustainable economic recovery: the gradual redistribution of income toward the wealthiest 1 percent of households; a failure to fully stabilize and reregulate finance; serious fiscal troubles for state and local governments; and detritus from the financial crisis that remains on household and corporate balance sheets. These factors contribute to a situation in which employment has not risen fast enough since the (supposed) end of the recession to significantly increase the employment-population ratio. Meanwhile, public investment at all levels of government fell from roughly 3.7 percent of GDP in 2008 to 3.2 percent in the fourth quarter of 2011, helping to explain the weak economic picture. For this report, we use the Levy Institute macro model to simulate the economy under the following three scenarios: (1) a private borrowing scenario, in which we find the appropriate amount of private sector net borrowing/lending to achieve the path of employment growth projected under current policies by the Congressional Budget Office (CBO), in a report characterized by excessive optimism and a bias toward deficit reduction; (2) a more plausible scenario, in which we assume that the federal government extends certain key tax cuts and that household borrowing increases at a more reasonable rate than in the previous scenario; and (3) a fiscal stimulus scenario, in which we simulate the effects of a fully "paid for" 1 percent increase in government investment. The results show the importance of debt accumulation as a consideration in macro policymaking. The first scenario reproduces the CBO's relatively optimistic employment projections, but our results indicate that this private-sector-led growth scenario quickly brings household and business debt to new all-time highs as percentages of GDP. We note that the CBO makes its projections using an orthodox model with several common, but fundamental, flaws. This makes possible the agency's result that current policies will reduce the unemployment rate without a run-up in the private sector’s debt—"business as usual," in the words of our report's title. The policies weighed in the second scenario do not perform much better, despite a looser fiscal stance. Finally, our third scenario illustrates that a small, tax-financed increase in government investment could lower the unemployment rate significantly—by about one-half of 1 percent. A stimulus package of this size might be within the realm of political possibility at this juncture. However, our results lead us to surmise that it would take a much more substantial fiscal stimulus to reduce unemployment to a level that most policymakers would regard as acceptable. |
| Date: | 2012–04 |
| URL: | http://d.repec.org/n?u=RePEc:lev:levysa:sa_apr_12&r=pbe |
| By: | Panizza, Ugo; Presbitero, Andrea F. |
| Abstract: | This paper uses an instrumental variable approach to study whether public debt has a causal effect on economic growth in a sample of OECD countries. The results are consistent with the existing literature that has found a negative correlation between debt and growth. However, the link between debt and growth disappears once we instrument debt with a variable that captures valuation effects brought about by the interaction between foreign currency debt and exchange rate volatility. We conduct a battery of robustness tests and show that our results are not affected by weak instrument problems and are robust to relaxing our exclusion restriction. |
| Keywords: | Government Debt, Growth, OECD countries |
| JEL: | F33 F34 F35 O11 |
| Date: | 2012–04 |
| URL: | http://d.repec.org/n?u=RePEc:uca:ucapdv:168&r=pbe |
| By: | Carlo Andrea Bollino; Gianfranco Di Vaio; Paolo Polinori |
| Abstract: | The aim of this work is to identify the existence of spatial spillover and spatial heterogeneity in local government efficiency, by using data from a newly constructed database about 341 municipalities from the Italian region Emilia-Romagna. The methodology is based on a two-step procedure. In the first step, cost efficiency scores are estimated by means of non-parametric Data Envelopment Analysis (DEA). In the second step, an Exploratory Spatial Data Analysis (ESDA), which is based on Moran’s I statistic, is applied to the efficiency scores computed in the previous step. Results show that municipalities are cost inefficient, on average, and that positive spatial externalities, in the form of positive spatial autocorrelation, influence the efficiency performance of local government. In particular, municipalities with a high degree of cost efficiency are surrounded by municipalities with a similar level of efficiency and vice versa. At the same time, results also show the existence of relevant spatial heterogeneity. Particular attention has been paid to the heterogeneity coming from outlying observations. Spatial spillovers provide evidence favoring theories of yardstick competition or phenomena like monitoring, benchmarking and knowledge transfer across space. At the same time, the presence of relevant spatial heterogeneity should be further investigated. |
| Keywords: | Data Envelopment Analysis, ESDA – Exploratory Spatial Data Analysis, local government efficiency, outliers |
| JEL: | C21 C61 R38 |
| Date: | 2012–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:pia:wpaper:101/2012&r=pbe |
| By: | Federico Revelli (University of Torino) |
| Abstract: | This paper models theoretically and investigates empirically the consequences on local economic performance of state mandates on financially distressed authorities. In particular, I analyze the switch from systematic state bailout of regional health care deficits to selectively mandated hikes in regions’ own business income tax rates that took place in Italy around the mid 2000s, and exploit such dramatic switch to identify the impact of tax policy on the economy. I model factor input use within a multi-jurisdiction neoclassical framework, where production takes place in plants, and physical capital requires energy in fixed proportions depending on the size of energy-saving capital that is installed along with physical capital. Energy-saving capital can be interpreted either as tangible information technology (IT) equipment (e.g., computer-aided line speed control devices) or as intangible assets (e.g., process design skills) lowering a plant energy requirement. The estimation results based on panel data for the Italian provinces and regions over a decade (2000-2010) reveal that, by raising the user cost of capital, mandated business income tax hikes stimulate province-level business energy use, lending support to the hypothesis of short run substitution between energy and energy-saving capital, and hamper the employment of human resources in science and technology (S&T) occupations, the latter being interpretable as a proxy for energy-saving capital. |
| Keywords: | Business income tax, state mandates, energy tax, energy use |
| JEL: | H25 H71 H73 Q48 R12 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:ieb:wpaper:2012/4/doc2012-12&r=pbe |
| By: | Christina Gathmann ; Björn Sass |
| Abstract: | Previous studies report a wide range of estimates for how female labor supply responds to childcare prices. We shed new light on this question using a reform that raised the prices of public daycare. Parents respond by reducing public daycare and increasing childcare at home. Parents also reduce informal childcare indicating that public daycare and informal childcare are complements. Female labor force participation declines and the response ist strongest for single parents and low-income households. The short-run effects on cognitive and non-cognitive skills are mixed, but negative for girls. Spillover effects on older siblings suggest that the policy affects the whole household, not just targeted family members. |
| Keywords: | Childcare, Labor supply, Cognitive skills, Family Policy, Germany |
| JEL: | J13 J22 J18 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwsop:diw_sp438&r=pbe |
| By: | Das Gupta, Chirashree |
| Abstract: | This paper explores the causal links between the role of public finance and Bihar's growth and development in the last decade; and argues that these links are tenuous. Bihar's growth acceleration precedes the ‘policy reforms' in public finance based on the ‘good governance' agenda initiated since 2005-06. However, the constraints on sustaining efforts to close Bihar's development gap with the rest of India stems from the nature of the growth process in its regional, sectoral and social dimensions and the contradictory means and ends of the ‘policy reforms' in public finance. Together, this has not only prevented the economic growth to add to public coiffeurs of the state but also occluded the role of tax institutions. |
| Keywords: | India, Corporate governance, Public finance, Local economy, Good Governance, Growth, Bihar, Political Economy |
| JEL: | O20 O40 P41 P43 R11 R58 |
| Date: | 2012–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper331&r=pbe |
| By: | Philipp Doerrenberg (CGS, University of Cologne); Andreas Peichl (IZA, University of Cologne, ISER and CESifo) |
| Abstract: | Recent discussions about rising inequality in industrialized countries have triggered calls for more government intervention and redistribution. Due to obvious behavioral effects caused by redistribution, it is however not clear whether redistributional policies are indeed able to combat inequality. This paper contributes to this relevant research question by using different contextual country-level data sources to study inequality trends in OECD countries since the 1980s. We first investigate the development of inequality over time before analyzing the question of whether governments can effectively reduce inequality. Different identification strategies, using fixed effects and instrumental variables models, provide some evidence that governments are capable of reducing income inequality despite countervailing behavioral adjustments. The effect is stronger for social expenditure policies than for progressive taxation, which seems to trigger more inequality increasing indirect behavioral effects. Our results also suggest that the use of secondary inequality data should be handled with caution. |
| Keywords: | Inequality, Redistribution, Social Expenditure, Progressive Taxation |
| JEL: | D31 D60 H20 |
| Date: | 2012–04–13 |
| URL: | http://d.repec.org/n?u=RePEc:cgr:cgsser:03-05&r=pbe |
| By: | Rafal Kierzenkowski; Isabell Koske |
| Abstract: | Despite a general trend of increasing labour income inequality, there have been differences in the timing, intensity and even direction of these changes across OECD countries. These stylized facts have led to numerous studies about the main determinants of labour income inequality and, as a result, a significant revision of the previous consensus about the key drivers. The most researched channels include skill-biased technological change, international trade, immigration, education as well as the role of labour market policies and institutions.<P>Moins d'inégalités de revenu et plus de croissance – Ces deux objectifs sont-ils compatibles? Partie 8. Les déterminants de l'inégalité de revenu du travail – une revue de la littérature<BR>En depit d'une tendance generale a l.augmentation des inegalites de revenu du travail, des differences sont apparues quant a l.occurrence, l.intensite et meme le sens de ces evolutions au sein des pays de l'OCDE. Ces faits stylises ont mene a de nombreuses etudes consacrees aux facteurs principaux de l'inegalite de revenu du travail et, en consequence, d'une revision significative du consensus precedent concernant les determinant cles. Les canaux les plus recherches incluent le progres technique, le commerce international, l'immigration, l'education ainsi que le role des politiques du marche du travail et des institutions. |
| Keywords: | globalisation, trade, technological change, labour market policies, education policy, immigration, income inequality, labour income, progrès technique, politique du marché du travail, commerce, politique d'éducation, mondialisation, immigration, inégalité des revenus, revenus du travail |
| JEL: | D63 F16 I24 J31 J58 O33 |
| Date: | 2012–04–03 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:931-en&r=pbe |
| By: | Laurence Jacquet; Etienne lehmann; Bruno Van Der Linden (THEMA, Universite de Cergy-Pontoise; CREST; IRES - Université Catholique de Louvain and FNRS) |
| Abstract: | This paper characterizes the optimal redistributive tax schedule in a matching unemployment framework where (voluntary) nonparticipation and (involuntary) un- employment are endogenous. The optimal employment tax rate is given by an inverse employment elasticity rule. This rule depends on the global response of the employ- ment rate, which depends not only on the participation (labor supply) responses, but also on the vacancy posting (labor demand) responses and on the product of these two responses. For plausible values of the parameters, our matching environment induces much lower employment tax rates than the usual competitive model with endogenous participation only. |
| Keywords: | Optimal taxation, Labor market frictions, Unemployment, Kalai so- lution. |
| JEL: | D82 H21 J64 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:ema:worpap:2012-26&r=pbe |
| By: | Li, Yuheng (China Economic Research Center) |
| Abstract: | This paper investigates the spatial-temporal disparity evident in rural household incomes at the provincial level in China in the period 1978-2007. The research is introduced through a framework comprising the transitional processes of decentralization, marketization, urbanization, and globalization. The research uses Moran’s I index and the spatial regression model. Research results show a clear spatial-temporal disparity in rural household incomes in China in the post-reform era, whereby the eastern provinces possess higher rural household incomes in comparison to the lower rural household incomes of the inland provinces. This disparity is attributed to the joint influence of processes of marketization, urbanization, and globalization upon household incomes derived from the non-agricultural industries. Decentralization proves to be non-significant in explaining the disparity in rural household incomes across China, as a result of the agricultural income generated from the limited household land allocated to each rural household. |
| Keywords: | Rural household income; spatial-temporal; Moran’s; transitional process; China |
| JEL: | N95 O11 R11 R58 |
| Date: | 2012–04–18 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:hacerc:2012-021&r=pbe |
| By: | John Quiggin (School of Economics, The University of Queensland) |
| Abstract: | The rise of New Media associated with the Internet has radically changed many aspects of daily life, and enabled us to do things that would have seemed unimaginable even a few decades ago. The speed and volume of communications has increased by a factor of a million or more since the Internet first emerged in the 1990s, and there has been a corresponding proliferation of information. Yet the economic implications of New Media are hard to discern. The famous observation of Robert Solow (1987) that ‘You can see the computer age everywhere but in the productivity statistics’ is just as valid today as it was when he first made it more than twenty years ago.The age of new media has produced only a handful of profitable new companies (Amazon and Google are the most notable examples). At the same time, while old media (newspapers, TV, radio) have proved more resilient than many observers expected, their business models have been severely undermined. This chapter will discuss what economics can tell us about New Media. More interestingly, perhaps, at least to those concerned with the long-term impact of New Media, it will examine the implications of New Media for economics and economic organization, and offer some policy recommendations. |
| Keywords: | Media |
| Date: | 2012–04 |
| URL: | http://d.repec.org/n?u=RePEc:rsm:pubpol:12_1&r=pbe |
| By: | Artuç, Erhan; Pourpourides, Panayiotis M. (Cardiff Business School) |
| Abstract: | Using US data for the period 1959-2007, we identify sectoral productivity shocks and capital investment-specific shocks by employing a Vector Autoregression whose shock structure is disciplined by a general equilibrium model. Controlling for real and nominal factors, we find that capital investment-specific shocks explain 70 percent of fluctuations of R&D investment while R&D technology shocks explain 30 percent of the variation of aggregate output net of R&D investment (i.e. the output of the non-R&D sector). Technology shocks jointly explain almost all the variation of output in the R&D sector and 78 percent of the variation of output in the non-R&D sector. |
| Keywords: | Productivity Shocks; Investment-specific Shocks; R&D; VAR |
| JEL: | C13 C32 C68 E32 O3 |
| Date: | 2012–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdf:wpaper:2012/2&r=pbe |
| By: | Lusine Arzumanyan (EA3713 - Centre de Recherche Magellan - Université de Lyon - Université Jean Moulin - Lyon III); Ulrike Mayrhofer (EA3713 - Centre de Recherche Magellan - Université de Lyon - Université Jean Moulin - Lyon III); Christopher Melin (EA3713 - Centre de Recherche Magellan - Université de Lyon - Université Jean Moulin - Lyon III) |
| Abstract: | Over the past few decades, scholars have shown a growing interest in the topic of innovation processes in multinational enterprises (MNE). Management systems of MNEs are complex, mainly because of the geographical dispersion of their activities. The internationalisation of the value-chain raises critical questions linked to the coordination of innovation processes. The objective of this paper is twofold: (1) to contribute to a better understanding of coordination mechanisms of innovation processes in multinational enterprises, and (2) to propose new tools and practices that can be used by MNEs to efficiently manage their innovation processes. |
| Keywords: | Research and development ; multinational company; coordination of activities. |
| Date: | 2011–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00690220&r=pbe |