The slides from this morning’s event are available here.
Velasco Slides
- Post author By Philip Lane
- Post date March 14, 2011
- Categories In Fiscal Policy
- Tags Irish fiscal framework
- 3 Comments on Velasco Slides
In its latest Quarterly Bulletin, the BIS clarifies what can and cannot be learned from its data. You can read the note here.
I presented this paper on CCCTB to the Kenmare economics conference back in 2008. Many in attendance felt that it was unlikely to come to pass. It is clearly on the agenda now though it is not yet certain that it will meet the requirements associated with “enhanced co-operation” (which, under Lisbon, requires nine countries rather than the eight mentioned in the paper, which was correct at the time. Nothing else, as far as I can see, needs updating).
I characterise the proposals as a “Trojan horse”. The logic is similar to that of Bettendorf et al., writing on “Corporate Tax Harmonization in the EU” in the journal Economic Policy in 2010. They say “consolidation with formula apportionment does not weaken incentives for tax competition. Tax competition instead offers a rationale for rate harmonization, in addition to base harmonization.”
The article is here.
The Policy Institute and the Institute for International Integration Studies (IIIS) at TCD are pleased to announce that Andres Velasco (ex Minister of Finance for Chile) will give a seminar at TCD on Monday March 14 on “The Fiscal Framework: Lessons from Chile”. As has been flagged on this blog before, Chile was able to run very sizeable surpluses in the pre-crisis period, such that it could enjoy a big fiscal swing during the crisis without threatening fiscal sustainability. This seminar provides an opportunity to learn how Chile was able to achieve this counter-cyclical fiscal policy.
Monday, March 14
Time: 8.30am-10am
Venue: Jonathan Swift Theatre (Room 2041A), Arts Block, TCD
Admission: Free, All welcome
Queries to: policy.institute at tcd.ie
Andrés Velasco: Short Bio
Andrés Velasco was the Minister of Finance of Chile between March 2006 and March 2010. During his tenure he was recognized as Latin American Finance Minister of the Year by several international publications. His work to save Chile´s copper windfall and create a rainy-day fund was highlighted in the Financial Times, the Economist, the Wall Street Journal and Bloomberg, among many others.