Similar Search Results

The Role of Federal Taxation in the Supply of Municipal Bonds : Evidence from Municipal Governments

Metcalf, Gilbert E. - 2021

This paper considers ways in which federal tax policy affects municipal asset and debt holdings. The tax treatment of municipal bonds and income creates an arbitrage opportunity for communities to issue tax exempt debt and invest in financial assets. I present evidence that suggests the rules in...

Persistent link: https://www.econbiz.de/10013246507

Urban Public Finance

Glaeser, Edward L. - 2012

America's local governments spend about one-eighth of our national income, one-fourth of total government spending, and employ over 14 million people. This paper surveys the large and growing economics literature on local governments and their finances. A primary difference between local and...

Persistent link: https://www.econbiz.de/10013103516

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

The Effect of Federal Tax Deductibility on State and Local Taxes and Spending

Feldstein, Martin S.; Metcalf, Gilbert E. - 2021

This paper examines the effect of federal deductibility of state and local taxes on the fiscal behavior of state and local governments. The primary finding is that deductibility affects the way that state-local governments finance their spending as well as the overall level of spending. More...

Persistent link: https://www.econbiz.de/10013226577

Shale Public Finance : Local Government Revenues and Costs Associated with Oil and Gas Development

Newell, Richard G. - 2015

Oil and gas development associated with shale resources has increased substantially in the United States, with important implications for local governments. These governments tend to experience increased revenue from a variety of sources, such as severance taxes distributed by the state...

Persistent link: https://www.econbiz.de/10013015969

An Empirical Examination of Municipal Financial Policy

Gordon, Roger H.; Slemrod, Joel - 2022

Current U.S. tax law creates a variety of incentives affecting municipal financial policy. Under current law,municipalities can borrow at a tax-exempt interest rate yet can earn the full market rate of return on any assets held. Residents, in contrast, if they borrow or lend as individuals,pay...

Persistent link: https://www.econbiz.de/10013321611

Local Public Finance Dynamics and Hurricane Shocks

Jerch, Rhiannon Leigh; Kahn, Matt; Lin, Gary C. - 2022

Since 1980, over 2,000 local governments in US Atlantic and Gulf states have been hit by a hurricane. Such natural disasters can exert severe budgetary pressure on local governments’ ability to provide critical infrastructure, goods, and services. We study local government revenue,...

Persistent link: https://www.econbiz.de/10014090940

Local Government and Old-Age Support in the New Deal

Fetter, Daniel - 2016

A key question in the design of public assistance to the needy is how allocation of responsibility for funding and decision-making across different levels of government influences the level and type of assistance provided. The New Deal era was a period in which this allocation changed...

Persistent link: https://www.econbiz.de/10012980674

The Budgetary Repercussions of Capital Convictions

Baicker, Katherine - 2021

Control of public spending and revenues is increasingly being left to states and localities. In order to understand the consequences of such a movement on the distribution of social spending, it is necessary to understand how fiscal distress will affect state and local budgets. This paper...

Persistent link: https://www.econbiz.de/10013226061

The Political Resource Curse

Brollo, Fernanda - 2010

endogenous entry of political candidates. The evidence refers to municipalities in Brazil, where federal transfers to municipal … implications of the theory and identify the causal effect of larger federal transfers on political corruption and the observed … transfers increase political corruption and reduce the quality of candidates for mayor …

Persistent link: https://www.econbiz.de/10013148374