Showing 1 - 5 of 5
This paper analyzes some of the implications of North American labor market integration for fiscal policy. The economies of Canada and the US are both characterized by highly integrated internal markets for goods and services as well as for labor and capital, and subnational governments in both...
Persistent link: https://www.econbiz.de/10005076579
Mature federations have relatively transparent delineations of authority among levels of government; subnational governments enjoy considerable autonomy in their expenditure, revenue, and debt policies. In other countries, problems of soft budget constraints, bailouts, and fiscal and financial...
Persistent link: https://www.econbiz.de/10005076603
The dynamic fiscal policy adjustment of local jurisdictions is investigated empirically using a panel of more than 1000 U.S.~municipalities over a quarter of a century. Distinguishing own revenue, grants, expenditures, and debt service, the analysis is carried out using a vector error-correction...
Persistent link: https://www.econbiz.de/10005125954
Central government matching grants can, in principle, induce socially- efficient provision of local public goods that produce spillover benefits. Local underprovision of public goods may however elicit direct central-government provision and finance (a ``bailout") that makes local residents...
Persistent link: https://www.econbiz.de/10005408412
This paper addresses a key but neglected task in the theory of international taxation, lent increased urgency by growing awareness of the potential gains from tax coordination: the characterization of Pareto-efficient international tax regimes. It shows that the Diamond- Mirrlees theorem on the...
Persistent link: https://www.econbiz.de/10005408426