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Revisiting the 'Decentralization Theorem' - On the Role of Externalities

Koethenbuerger, Marko - 2021

The Decentralization Theorem (Oates, 1972) is central to the discussion of fiscal federalism. We revisit the role of … consumption spillovers in evaluating the merits of (de)centralization. Unlike the general prediction, a higher degree of … spillovers may reduce the difference in utility of centralization and decentralization. The non-monotonicity result relates to …

Persistent link: https://www.econbiz.de/10013316807

Does Tax Competition Really Promote Growth?

Koethenbuerger, Marko; Lockwood, Ben - 2021

. Growth can be lower with decentralization. Our results also predict a negative relationship between output volatility and …

Persistent link: https://www.econbiz.de/10013316823

Government Spending and Tax Revenue Decentralization and Public Sector Efficiency : Do Natural Disasters Matter?

Afonso, António; Jalles, João Tovar; Venâncio, Ana - 2023

empirically link the public sector efficiency scores, to tax revenue and spending decentralization. First, we compute government … estimate the effect of decentralization on public sector efficiency and how extreme natural disasters mediate this relationship …. The sample covers 36 OECD countries between 2006 and 2019. Our results show that tax revenue decentralization decreases …

Persistent link: https://www.econbiz.de/10014356487

Embedded Supervision : How to Build Regulation into Decentralised Finance

Auer, Raphael - 2022

The emergence of so-called “decentralised finance” (DeFi) and a shadow financial system of cryptocurrency exchanges and stablecoin issuers raises the challenge of how to apply technology-neutral regulation so that similar risks are subject to the same rules. This paper makes the case for...

Persistent link: https://www.econbiz.de/10013405970

Longevity and aggregate savings

Sheshinski, Eytan - 2006

For the last fifty years, countries in Asia and elsewhere witnessed a surge in aggregate savings per capita. Many empirical studies attribute this trend to the highly significant increases in life longevity of the populations of these countries. Some argue that the rise in savings is shortrun,...

Persistent link: https://www.econbiz.de/10010264001

Efficiency in family bargaining: living arrangements and caregiving decisions of adult children and disabled elderly parents

Pezzin, Liliana E.; Pollak, Robert A.; Schone, Barbara S. - 2007

In this paper, we use a two-stage bargaining model to analyze the living arrangement of a disabled elderly parent and the assistance provided to the parent by her adult children. The first stage determines the living arrangement: the parent can live in a nursing home, live alone in the...

Persistent link: https://www.econbiz.de/10010264063

On time and money donations

Cappellari, Lorenzo; Ghinetti, Paolo; Turati, Gilberto - 2007

This paper investigates the determinants of time and money gifts. We first develop a behavioural model which accounts for both types of donations, as well as for decisions about domestic and market hours of work. We then investigate the issue empirically, using survey data for Italy. Results...

Persistent link: https://www.econbiz.de/10010264243

The intergenerational transmission of risk and trust attitudes

Dohmen, Thomas; Falk, Armin; Huffman, David - 2008

Recent theoretical contributions depart from the usual practice of treating individual attitude endowments as a black box, by assuming that these are shaped by the attitudes of parents and other role models. Attitudes include fundamental preferences such as risk preference, and crucial beliefs...

Persistent link: https://www.econbiz.de/10010264365

A theory of tolerance

Corneo, Giacomo; Jeanne, Olivier - 2007

We develop an economic theory of tolerance where lifestyles and traits are invested with symbolic value by people. Value systems are endogenous and taught by parents to their children. In conjunction with actual behavior, value systems determine the esteem enjoyed by individuals. Intolerant...

Persistent link: https://www.econbiz.de/10010272740

The compensating income variation of social capital

Groot, Wim; Maassen van den Brink, Henriëtte; van … - 2007

There is a small but growing literature on the determinants of social capital. Most of these studies use a measure of trust to define social capital empirically. In this paper we use three different measures of social capital: the size of the individual's social network, the extent of their...

Persistent link: https://www.econbiz.de/10010276975