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Education, Welfare, and the "New" Federalism : State Budgeting in a Federalist Public Economy
Craig, Steven G.; Inman, Robert P. - 2021
President Reagan's proposal for a "New Federalism" raises a fundamental challenge to our current structure of Federal …-state-local fiscal relations.This research examInes the lIkely consequences of the New Federalism for fiscal allocations by state … and more on tax relief and the numerous other state activities. Second, the New Federalism, as it relaxes the spending …
Persistent link: https://www.econbiz.de/10013234083
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Saving Europe? : The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
Mendoza, Enrique G. - 2014
What are the macroeconomic effects of tax adjustments in response to large public debt shocks in highly integrated economies? The answer from standard closed-economy models is deceptive, because they underestimate the elasticity of capital tax revenues and ignore cross-country spillovers of tax...
Persistent link: https://www.econbiz.de/10013046730
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A Quantitative Analysis of Tax Competition V. Tax Coordination Under Perfect Capital Mobility
Mendoza, Enrique G.; Tesar, Linda L. - 2021
Theory predicts that strategically-determined tax rates induce negative externalities across countries in relative …
Persistent link: https://www.econbiz.de/10013246639
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A Political Economy Theory of Partial Decentralization
Hatfield, John William - 2009
We revisit the classic problem of tax competition in the context of federal nations, and derive a positive theory of …
Persistent link: https://www.econbiz.de/10012765361
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Local Property and State Income Taxes : The Role of Interjurisdictional Competition and Collusion
Nechyba, Thomas J. - 2022
This paper attempts to address two long standing questions in Public Finance: (i) why is the property tax, despite popular complaints about its fairness, the almost exclusive tax instrument used by local governments, and (ii) why do we consistently observe higher levels of governments undermine...
Persistent link: https://www.econbiz.de/10013323556
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Evaluating the Efficiency and Equity of Federal Fiscal Equalization
Albouy, David - 2010
In theory, federal transfers that make household location decisions efficient should ignore local cost differences …
Persistent link: https://www.econbiz.de/10013141358
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Capital Taxation and Ownership When Markets are Incomplete
Farhi, Emmanuel - 2010
This paper analyzes the theoretical and quantitative implications of optimal capital taxation in the neoclassical growth model with aggregate shocks and incomplete markets. The model features a representative-agent economy with proportional taxes on labor and capital. I first consider the case...
Persistent link: https://www.econbiz.de/10012759845
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Capital Income Taxation in the Globalized World
Razin, Assaf; Sadka, Efraim - 2021
The behavior of taxes on capital income in the recent decades points to the notion that international tax competition that follows globalization of capital markets put strong downward pressures on the taxation of capital income; a race to the bottom. This behavior has been perhaps most pronounced...
Persistent link: https://www.econbiz.de/10013219197
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Tax Competition and Trade Protection
Janeba, Eckhard; Wilson, John D. - 2021
This paper reconsiders the question of whether tax competition for mobile capital leads to tax rates on capital that are too low or too high from the combined viewpoint of the competing regions (or countries in an economic union). In contrast to standard models of tax competition, both commodity...
Persistent link: https://www.econbiz.de/10013237550
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Fiscal Rules, Bailouts, and Reputation in Federal Governments
Dovis, Alessandro - 2017
Expectations of transfers by central governments incentivize overborrowing by local governments. In this paper, we ask if fiscal rules can reduce overborrowing if central governments cannot commit. We study a model in which the central government's type is unknown and show that fiscal rules...
Persistent link: https://www.econbiz.de/10012945158