Migration and Redistribution: Federal Governance of an Economic Union Matters
Assaf Razin and
Efraim Sadka
No 28558, NBER Working Papers from National Bureau of Economic Research, Inc
Abstract:
Both the U.S. and the EU are an economic union: There is a single market for goods, capital, finance, and labor. That is, there is free mobility of goods and services, physical and financial capital, and labor among the member countries of the union. Nevertheless, there is much higher degree of economic policy coordination among the member states of the U.S than of the EU. We argue, by using a model of a union exhibiting migration-based fiscal externality, that the degree of coordination among the member states potentially contribute a great deal to our understanding of observed policy differences between the EU and the US as economic unions: the generosity of the welfare state and the skill composition of migration.
JEL-codes: F02 H0 H77 (search for similar items in EconPapers)
Date: 2021-03
New Economics Papers: this item is included in nep-isf and nep-ure
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Citations:
Published as Assaf Razin & Efraim Sadka, 2021. "Migration and redistribution: Why the federal governance of an economic union does matter," Journal of Government and Economics, vol 1.
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Working Paper: Migration and Redistribution: Federal Governance of an Economic Union Matters (2021)
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