Die jüngst von Bayern und Hessen eingereichte Verfassungsbeschwerde gegen den bundesstaatlichen Finanzausgleich zielt im Kern auf die ungleiche Verteilung der Finanzierungslasten zwischen den Ländern im Rahmen des bestehenden Ausgleichssystems. Sollen die Finanzausgleichslasten umfassend...

There is a large literature on how the sharing of revenue between different levels of government and the design of intergovernmental transfer schemes affect sub-national finances. Using a panel of OECD countries during 1980-2005, this paper tests for: i) the presence of a stable long-run...

Most state (and local) governments in the U.S. operate under formal fiscal rules which limit their ability to run budget deficits and resort to debt financing. A priori, one would expect to find evidence in favor of an intertemporally balanced budget, or fiscal sustainability, for these states,...

Chapter 1: Background and Emerging Challenges -- Chapter 2: Theory of Fiscal Federalism and Local Fiscal Domain -- Chapter 3: Fiscal Decentralization and Local Area Corporate Social Responsibility -- Chapter 4: Globalization, Climate Change and Changing Face of Urban Public Finance -- Chapter 5:...

This paper uses the extreme bounds analysis (EBA) of Leamer (1983, 1985) to analyze the robust determinants of the demand for money in a panel of 17 Asian countries for the period 1970 to 2009. These robust determinants are found to be unit root variables. Therefore, cointegration between these...

Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where productivity is higher and has increased...