IMF conditionality as a screening device

Article Abstract:

The use of both buybacks and the adoption of an International Monetary Fund (IMF) program as screening tools that allow creditors to discriminate between countries that are willing to utilize debt relief for investing and repaying and countries that are not is investigated. This dilemma can be solved if the country in question has adequate resources to adopt a debt buyback program and gain a debt relief in the process. For countries that are credit constrained, an alternative screening strategy is to implement an IMF program in return for debt reduction or loans.

Fiscal Policy, National Government Liabilities & Debt, Models, International Monetary Fund, Economic policy, Monetary policy, National debt, External debt relief, Debt relief, External debts, Debt equity conversion

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Tax evasion, tax competition and the gains from nondiscrimination: the case of interest taxation in Europe

Article Abstract:

A study was conducted to analyze the taxation of interest income in Europe during the presence of tax evasion. A game-theoretic approach was utilized to carry out the analysis. The model supported the evaluation of different reform proposals. The tax treatment of nonresidents' interest income was also examined. In addition, the correlation between government discrimination and tax evasion was analyzed.

Tax Law, Tax Evasion & Penalties, Analysis, Europe, Economic aspects, Interest deductions, Taxation, Tax evasion, Tax penalties

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