Narrow search
Showing 1 - 10 of 198
Cover Image
Inefficiencies from Metropolitan Political and Fiscal Decentralization : Failures of Tiebout Competition
Calabrese, Stephen - 2011
-best allocation and show efficiency can be implemented with decentralization using head taxes. We calibrate the model and compare … decentralization and property taxation are large, dissipating most if not all the potential welfare gains that efficient … decentralization could achieve. In property tax equilibrium centralization is frequently more efficient! An externality in community …
Persistent link: https://www.econbiz.de/10012461406
Cover Image
Expenditure Competition
Gordon, Roger H. - 2001
response. In this paper, we explore the effect that competition for residents induced by fiscal decentralization has on 'waste … an additional advantage of fiscal decentralization …
Persistent link: https://www.econbiz.de/10012470537
Cover Image
Decentralized Mining in Centralized Pools
Cong, Lin William - 2019
The rise of centralized mining pools for risk sharing does not necessarily undermine the decentralization required for … decentralization, because larger pools better internalize their externality on global hash rates, charge higher fees, attract …
Persistent link: https://www.econbiz.de/10012479545
Cover Image
Limits to Competition : Strategies for Promoting Jurisdictional Cooperation
Agrawal, David R. - National Bureau of Economic Research - 2023
Inefficiencies from tax competition may result in governments seeking to limit fiscal competition via tax treaties, harmonization, minimum tax rates, or interjurisdictional cooperation. I propose a general model applicable to studying many types of taxing instruments, which allows for the...
Persistent link: https://www.econbiz.de/10014372417
Cover Image
Equilibrium Impotence : Why the States and Not the American National Government Financed Economic Development in the Antebellum Era
Wallis, John Joseph - 2005
Why did states dominate investments in economic development in early America? Between 1787 and 1860, the national government's $54 million on promoting transportation infrastructure while the states spent $450 million. Using models of legislative choice, we show that Congress could not finance...
Persistent link: https://www.econbiz.de/10012467284
Cover Image
Fiscal Challenges in Multilayered Unions : An Overview and Case Study
Aizenman, Joshua - 2014
This paper reviews recent research dealing with fiscal discipline and revisit the issues of fiscal control in federal systems, focusing on selective case studies covering the 2000s, before and after the Global Financial Crisis (GFC). We start by contrasting the recent fiscal history of...
Persistent link: https://www.econbiz.de/10012458101
Cover Image
Fiscal Federalism and Legislative Malapportionment : Causal Evidence from Independent but Related Natural Experiments
Galiani, Sebastian - 2014
We exploit three natural experiments in Argentina in order to study the role of legislative malapportionment on the biased federal tax sharing scheme prevalent in the country. We do not find support to attribute it to legislative malapportionment during periods when democratic governments were...
Persistent link: https://www.econbiz.de/10012458669
Cover Image
Off-Balance-Sheet Federal Liabilities
Hamilton, James D. - 2013
Much attention has been given to the recent growth of the U.S. federal debt. This paper examines the growth of federal liabilities that are not included in the officially reported numbers. These take the form of implicit or explicit government guarantees and commitments. The five major...
Persistent link: https://www.econbiz.de/10012459408
Cover Image
Fiscal Unions
Werning, Ivan - 2012
We study cross-country risk sharing as a second-best problem for members of a currency union using an open economy model with nominal rigidities and provide two key results. First, we show that if financial markets are incomplete, the value of gaining access to any given level of aggregate risk...
Persistent link: https://www.econbiz.de/10012460383