Narrow search
Showing 1 - 10 of 572
Cover Image
Fiscal Policy and Monetary Union : Is There a Tradeoff between Federalism and Budgetary Restrictions?
Eichengreen, Barry; von Hagen, Jürgen - 2021
The Maastricht Treaty on Europe Union features an Excessive Deficit Procedure limiting the freedom to borrow of governments participating in the European monetary union. One justification is to prevent states from over- borrowing and demanding a bailout which could divert the European Central...
Persistent link: https://www.econbiz.de/10013249559
Cover Image
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
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/10013056579
Cover Image
Congressional Distributive Politics and State Economic Performance
Levitt, Steven D.; Poterba, James M. - 2021
This paper tests several theories of the effects of congressional representation on state economic growth. States that were represented by very senior Democratic congressmen grew more quickly during the 1953-1990 period than states that were represented by more junior congressional delegations....
Persistent link: https://www.econbiz.de/10013226176
Cover Image
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
Cover Image
Assistance to the Poor in a Federal System
Brown, Charles; Oates, Wallace E. - 2021
This paper explores the roles of different levels of government in assisting the poor. Using a model with utility interdependence, the paper presents some theoretical results on how levels of poor relief vary with the extent of mobility of the poor under both centralized and decentralized...
Persistent link: https://www.econbiz.de/10013213096
Cover Image
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, subsidize positive externalities, and offset differences in federal-tax payments and local taxes levied on non-residents, but not local tax revenues from residents. Transfers that...
Persistent link: https://www.econbiz.de/10013141358
Cover Image
Fiscal Unions
Werning, Iván - 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/10013102600
Cover Image
Subsidiarity and the European Union
Inman, Robert P.; Rubinfeld, Daniel L. - 2021
essay reviews three alternative models of subsidiarity -- decentralized federalism, centralized federalism, and democratic … federalism -- and argues the current European Economic Community has evolved from decentralized to centralized to a fully …
Persistent link: https://www.econbiz.de/10013225568
Cover Image
Is it is or is it Ain't My Obligation? Regional Debt in a Fiscal Federation
Cooper, Russell - 2015
This paper studies the repayment of regional debt in a multi-region economy with a central authority: who pays the obligation issued by a region? With commitment, a central government will use its taxation power to smooth distortionary taxes across regions. Absent commitment, the central...
Persistent link: https://www.econbiz.de/10012750657