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Experimentation in Federal Systems
Callander, Steven - 2013
We present a model where heterogeneous districts choose both whether to experiment and the policies to experiment with. Since districts learn from each other, the first-best requires that policy experiments converge so that innovations are useful also for neighbors. However, the equilibrium...
Persistent link: https://www.econbiz.de/10012459061
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Isolated Capital Cities and Misgovernance : Theory and Evidence
Campante, Filipe R. - 2013
city inhabitants, and lower levels of military spending by ruling elites, as predicted by the theory …
Persistent link: https://www.econbiz.de/10012459634
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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/10012461406
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Centralized versus Decentralized Provision of Local Public Goods : A Political Economy Analysis
Besley, Timothy - 1999
of centralization stressed in the existing literature disappear, suggesting that the case for decentralization must be … driven by political economy considerations. Our political economy analysis assumes that under decentralization public goods …
Persistent link: https://www.econbiz.de/10012471712
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Externalities, Incentives and Failure to Achieve National Objectives in Decentralized Economies
Aizenman, Joshua - 1991
The purpose of this paper is to study why decentralized economies often fail to achieve national objective in the presence of externalities. The paper employs a two-period, open economy framework in which the central government allocates its tax revenues among a larger number of individual...
Persistent link: https://www.econbiz.de/10012475365
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The Efficiency of Decentralized Investment Management Systems
Jones, David S. - 1981
efficient decentralization of investment decisions permits the institution to economize on the information which must be passed …
Persistent link: https://www.econbiz.de/10012478396
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Policy Decentralization and Exchange Rate Management in Interdependent Economies
Buiter, Willem H. - 1980
The paper provides a theoretical framework for analyzing policy formation among independent authorities operating in an interdependent environment. This is then applied to the analysis of optimal monetary policy in a stochastic two-country model with rational expectations. The main conclusions...
Persistent link: https://www.econbiz.de/10012478604
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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/10012479545
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Is a Decentralized Right-to-Work Policy Feasible?
Ravallion, Martin - 2019
Evidence on the implementation of India's National Rural Employment Guarantee Act suggests that the available work is often rationed by local leaders in poor areas, and that this is an important factor limiting the scheme's impact on poverty. The paper offers explanations for this empirical...
Persistent link: https://www.econbiz.de/10012479639
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Transboundary Spillovers and Decentralization of Environmental Policies
Sigman, Hilary - 2004
regulations; states with this responsibility are referred to as "authorized'' or having "primacy.'' Although such decentralization …
Persistent link: https://www.econbiz.de/10012467973