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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
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Local Government Budgeting : The Econometric Comparison of Political and Bureaucratic Models
Feldstein, Martin S.; Frisch, Daniel J. - 2021
The current paper presents a method of deciding the question of whether any given stage in the budget process is an example of the "political" or the "bureaucratic" model. We then use it to study local government spending on education. The basis for our method is the important difference between...
Persistent link: https://www.econbiz.de/10013218123
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The Financing of Local Government in China : Stimulus Loan Wanes and Shadow Banking Waxes
Chen, Zhuo - 2017
China's four-trillion-yuan stimulus package fueled by bank loans in 2009 has led to the rapid growth of shadow banking activities after 2012. Local governments financed the stimulus through bank loans in 2009, and resorted to non-bank debt financing after 2012 given the rollover pressure from...
Persistent link: https://www.econbiz.de/10012951359
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Minority Representation in Local Government
Beach, Brian - 2018
Does minority representation in a legislative body differentially impact outcomes for minorities? To examine this question, we study close elections for California city council seats between white and nonwhite candidates. We find that nonwhite candidates generate differential gains in housing...
Persistent link: https://www.econbiz.de/10012908828
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Data Gaps and the Policy Response to the Novel Coronavirus
Stock, James H. - 2020
that are not tested under current guidelines), is not well estimated in the literature because tests for the coronavirus …
Persistent link: https://www.econbiz.de/10012838354
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Trends and Deviations in Federal, State and Local Finance
Zax, Jeffrey S. - 2021
This paper contains a descriptive analysis o+ real per capita annual revenues, expenditures, deficits, debt levels and capital expenditures for federal, state and local government finance in the United States for the rears 1952-83. It summarizes each time series as a deterministic trend and an...
Persistent link: https://www.econbiz.de/10013246291
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Public Sector Bargaining and the Local Budgetary Process
Gyourko, Joseph; Tracy, Joseph S. - 2021
This paper investigates how the fiscal environment and the budgetary process affect wage and employment determination in the local public sector. The structure of the local tax system is found to be influential with significantly higher wages occurring in cities with access to local sales and/or...
Persistent link: https://www.econbiz.de/10013310582
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The Revenues-Expenditures Nexus : Evidence from Local Government Data
Holtz-Eakin, Douglas; Newey, Whitney K.; Rosen, Harvey S. - 2022
This paper examines the intertemporal linkages between local government expenditures and revenues. In the terminology that has become standard in the literature on vector autoregression analysis, the issue is whether revenues Granger-cause expenditures, or expenditures Granger-cause revenues....
Persistent link: https://www.econbiz.de/10013310790
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Covid-19 and SME Failures
Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - 2021
We estimate the impact of COVID-19 on business failures for small and medium sized enterprises (SMEs) using firm-level data in seventeen countries. Absent government support, the failure rate of SMEs would have increased by 9.1 percentage points, representing 4.6 percent of private sector...
Persistent link: https://www.econbiz.de/10013244116
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A Dynamic Theory of Resource Wars
Acemoglu, Daron - 2011
interaction between the scarcity of resources and the incentives for war in the presence of limited commitment is at the center of … our theory. We show that a key parameter determining the incentives for war is the elasticity of demand. Our first result … identifies a novel externality that can precipitate war: price-taking firms fail to internalize the impact of their extraction on …
Persistent link: https://www.econbiz.de/10013131444