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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/10012891776

Expenditure Competition

Gordon, Roger H.; Wilson, John D. - 2021

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/10013227493

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/10013121991

Is it is or is it Ain't My Obligation? Regional Debt in a Fiscal Federation

Cooper, Russell W. - 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

Implications of Medicaid Financing Reform for State Government Budgets

Clemens, Jeffrey - 2017

We analyze potential reforms to Medicaid financing through the lens of fiscal federalism. Because substantial dollars are at stake, both the economic and political sides of intergovernmental transfers have high relevance in this setting. We show that changes in Medicaid financing formulas can...

Persistent link: https://www.econbiz.de/10012944646

Fiscal Federalism and Legislative Malapportionment : Causal Evidence from Independent But Related Natural Experiments

Galiani, Sebastián - 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

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

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

What Does the European Union Do?

Alesina, Alberto; Angeloni, Ignazio; Schuknecht, Ludger - 2021

We construct a set of indicators to measure the policy-making role of the European Union (European Council, Parliament, Commission, Court of Justice, etc.), in a selected number of policy domains. Our goal is to examine the division of prerogatives between European institutions and national...

Persistent link: https://www.econbiz.de/10013215691

Fiscal Federalism in Europe : Lessons from the United States Experience

Inman, Robert P.; Rubinfeld, Daniel L. - 2021

eastern European and Soviet states experiment with policy decentralization, the states of western Europe are looking to a more …--notably, the need to consider, and balance, the inefficiencies of fiscal policy decentralization (spillovers and wasteful fiscal …

Persistent link: https://www.econbiz.de/10013234060