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The Effects of Fiscal Decentralization on Publicly Provided Services and Labor Markets

Bianchi, Nicola; Giorcelli, Michela; Martino, Enrica Maria - National Bureau of Economic Research - 2021

This paper studies how fiscal decentralization affects local services. It explores a 1993 reform that increased the … identifica- tion leverages cross-municipal variation in the degree of decentralization that stems from differences in the average … age of buildings caused by bombings during WWII. Decentralization reduced local spending but expanded municipal services …

Persistent link: https://www.econbiz.de/10012794566

Intertemporal Analysis of State and Local Government Spending : Theory ad Tests

Holtz-Eakin, Douglas - 1993

Do state and local governments smooth their consumption spending across years, or is their spending driven mainly by contemporaneous changes in resources? We design a test to determine which view of state and local spending is more consistent with the data. We find that state and local spending...

Persistent link: https://www.econbiz.de/10012474701

Do Tax-Exempt Bonds Really Subsidize Municipal Capital?

Gordon, Roger H. - 1991

We argue that the tax-exempt status of municipal bonds provides little or no subsidy to capital investment by communities. Instead, the tax exemption simply provides arbitrage opportunities to high and low tax bracket individuals while leaving individuals in intermediate tax brackets essentially...

Persistent link: https://www.econbiz.de/10012475158

Municipal Construction Spending : An Empirical Examination

Holtz-Eakin, Douglas - 1989

Despite widespread concern and discussion, no consensus exists concerning the causes of the "infrastructure crisis." We investigate several models of the determination of local public capital expenditures. Using Euler equation methods, we find that the hypothesis that construction spending is...

Persistent link: https://www.econbiz.de/10012476059

Government Audits

Cuneo, Martina; Leder-Luis, Jetson; Vannutelli, Silvia - National Bureau of Economic Research - 2023

Audits are a common mechanism used by governments to monitor public spending. In this paper, we discuss the effectiveness of auditing with theory and empirics. In our model, the value of audits depends on both the underlying presence of abuse and the government's ability to observe it and...

Persistent link: https://www.econbiz.de/10014226172

Calling All Issuers : The Market for Debt Monitoring

Chen, Huaizhi; Cohen, Lauren; Liu, Weiling - National Bureau of Economic Research - 2022

A substantial fraction of local governments refinance their long-term debt with significant delays - resulting in sizable losses. Using data from 2001 to 2018, we estimate that U.S. municipals lost over $31 billion from this delayed refinancing, whereas the entire U.S. corporate sector, facing...

Persistent link: https://www.econbiz.de/10012938759

The Importance of Local Fiscal Conditions in Analyzing Local Labor Markets

Gyourko, Joseph - 1986

A new test of the compensating wage differential model is proposed. The logic behind Roback's model showing how differences in nonproduced amenities may be reflected in intercity wage differentials is extended to the case of differences in local fiscal conditions, represented by tax rates and...

Persistent link: https://www.econbiz.de/10012477029

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/10012480844

Local Public Finance Dynamics and Hurricane Shocks

Jerch, Rhiannon - 2020

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, expenditure,...

Persistent link: https://www.econbiz.de/10012482269

The Economics of State and Local Public Pensions

Brown, Jeffrey R. - 2011

This paper provides an overview of an economics-based perspective on the financial aspects of state and local public pensions in the U.S. Drawing on the research commissioned for an NBER research program on this topic, we discuss the large degree to which public pension liabilities exceed the...

Persistent link: https://www.econbiz.de/10012461865

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