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Was Pandemic Fiscal Relief Effective Fiscal Stimulus? Evidence from Aid to State and Local Governments
Clemens, Jeffrey; Hoxie, Philip G.; Veuger, Stan - National Bureau of Economic Research - 2022
We use an instrumental-variables estimator reliant on variation in congressional representation to analyze the effects of federal aid to state and local governments across all four major pieces of COVID-19 response legislation. Through September 2021, we estimate that the federal government...
Persistent link: https://www.econbiz.de/10013334387
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Balancing Federalism : The Impact of Decentralizing School Accountability
Hanushek, Eric Alan; Saenz-Armstrong, Patricia; … - National Bureau of Economic Research - 2024
change in policy allows estimation of the impact of altered federalism. By looking at how states reacted to their enhanced … with significantly lower student achievement growth. As a result, this readjustment of federalism to decision making by … lower levels appeared to lower national achievement. The snapshot of federalism impacts here is a lower bound on the effects …
Persistent link: https://www.econbiz.de/10014528390
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Intergovernmental Grants and Policy Competition : Concepts, Institutions, and Evidence
Clemens, Jeffrey; Veuger, Stan - National Bureau of Economic Research - 2023
the literature on the role of intergovernmental grants in systems of fiscal federalism. Second, we provide an updated look … directions for future research on the economics of fiscal federalism and the role of intergovernmental grants as policy …
Persistent link: https://www.econbiz.de/10014287352
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Federal Reserve Structure and the Production of Monetary Policy Ideas
Bordo, Michael D.; Prescott, Edward Simpson - National Bureau of Economic Research - 2023
We evaluate the decentralized structure of the Federal Reserve System as a mechanism for generating and processing new ideas on monetary policy over the 1960 - 2000 period. We document the introduction of monetarism, rational expectations, credibility, transparency, and other monetary policy...
Persistent link: https://www.econbiz.de/10014437046
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Assistance to the Poor in a Federal System
Brown, Charles - 1985
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/10012477364
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Education, Welfare, and the "New" Federalism : State Budgeting in a Federalist Public Economy
Craig, Steven G. - 1985
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/10012477523
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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, 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/10012462512
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Congressional Distributive Politics and State Economic Performance
Levitt, Steven D. - 1994
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/10012474207
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Fiscal Rules, Bailouts, and Reputation in Federal Governments
Dovis, Alessandro - 2017
Expectations of bailouts by central governments incentivize overborrowing by local governments. In this paper, we ask if fiscal rules can correct these incentives to overborrow when central governments cannot commit and if these rules will arise in equilibrium. We address these questions in a...
Persistent link: https://www.econbiz.de/10012453772
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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/10012458669