文章基本信息

标题：Tax Incentives and House Price Volatility in the Euro Area
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作者：Paul van den Noord
期刊名称：Economics Department Working Papers / OECD
印刷版ISSN：0259-4633
出版年度：2003
卷号：2003
DOI：10.1787/410243688730
出版社：Organisation for Economic Co-operation and Development (OECD)
摘要：A problem associated with inflation differentials in monetary unions is that the "crowding-in" effect of lower real interest rates associated with high inflation will initially outweigh the loss of competitiveness (crowding out). The crowding-in effect may produce volatility in house prices, especially if tax regimes favour the occurrence of bubbles. This paper shows that this is the case notably in the smaller countries of the euro area, and this could explain the persistence of inflation differentials in the area to some extent ...
关键词：taxation; Economic and Monetary Union