Implicit tax co-ordination under repeated policy interactions

In the context of a stylised gaine theoretical framework of capital tax competition, we show that when repeated policy interactions are associated to a systematic punishment of the deviating policymaker, a coordinated outcome can be the solution to the non cooperative tax game. This resuit suggests that explicit forms of policy coordination, such as a centralised tax authority, could in fact be largely unnecessary.Policy coordination, international fiscal issues

Self-control and savings

We reconsider the well-established paradigm of a rational individual's choice of a consumption schedule, building on the idea that human beings devote resources to withstand their desire for immediate consumption, i.e. to become more patient, thereby making less remote the pleasure derived from deferred consumption. We construct an infinite-horizon model of a small open economy, in which individuals can accumulate a stock of personal capital that reduces the discount on future consumption. Personal capital captures the effect of a conumer's past experience and choices on his future utilities. Our main results are: i) when individuals are heterogenous with respect to ability to become patient all individuals exhibit the same rate of time preference in the long run; ii) effort is rewarded in the long run to the extent that individuals who need to make more effort to become patient are wealthier and enjoy a higher level of utility bin the steady state. The latter result stems from the complementarity between personal capital and deferred consumption. JEL Classification: E13

Implicit tax co-ordination under repeated policy interactions

In the context of a stylised game theoretical framework of capital tax competition, we show that when repeated policy interactions are associated to a systematic punishment of the deviating policymaker, a co-ordinated outcome can be the solution to the non co-operative tax game. This result suggests that explicit forms of policy co-ordination, such as a centralised tax authority, could in fact be largely unnecessary. JEL Classification: E61, H87International Fiscal Issues, Policy Co-ordination

« Mais sans or soupirer que cette vive nue… » Anamorphose intertextuelle et métastase référentielle : d’un sonnet enchâssé

Par l'analyse d'un poème en prose (« la Déclaration foraine ») et du sonnet qui y est enchâssé (« La chevelure »), il s'agit de montrer que le texte mallarméen travaille la fonction déictique de telle façon qu'une radicale anamorphose à la fois ordonne et perturbe le champ référentiel. Ici, comme dans bien d'autres oeuvres de Mallarmé, la figure seconde de l'anamorphose, que l'on peut assimiler au « négatif » hegelien, prend, au niveau du discours, la forme du féminin et ouvre un site intertextuel paradoxal: celui où toute l'envergure du Livre ne se déploie que l'espace et le temps de la lettre.Through an analysis of a prose poem (« la Déclaration foraine ») and the sonnet it comprises (« La chevelure »), the author intends to show that Mallarmé deals with the deictic function in such a way that the referential field is there by both determinated and undone by some kind of anamorphosis. In this poem, as in many others from Mallarmé, the referential anamorphosis embodies a feminine discourse which opens a paradoxical intertext: the Mallarmean «Livre» is there spread in all its expanse by the minute twinkle of the letter

La jeune fille est la mort ou les trois temps d’une séduction

La musique est aussi un art de l’espace, elle spatialise les sons, elle rythme l’insertion de l’homme dans son paysage physique et mental dont la mort est la borne et peut-être le sens. Dans le rapport triangulaire qui s’institue d’Orphée à Eurydice sur la scène en forme de tribunal occupée par Hadès, c’est la musique, fût-elle strictement verbale, qui déploie sa séduction, à la fois comme un piège mortel et comme son échappatoire.Music is also an art of space: it spreads sounds, it gives rhythm to man’s insertion in his physical and mental landscape the bounds and meaning of which may well be death. In the three way relation which is established between Orpheus and Eurydice through a judiciary stage where Hades reigns supreme, it is music, be it merely verbal, that displays its seduction, both as a lethal trap and a way to escape it