Recent experience with disasters and terrorist attacks in the US indicates that state and local governments rely on the federal sector for support after disasters occur. But these same governments invest in infrastructure designed to reduce vulnerability to natural and man-made hazards. We show...

Recent experience with disasters and terrorist attacks in the US indicates that state and local governments rely on the federal sector for support after disasters occur. But these same governments are responsible for investing in infrastructure designed to reduce vulnerability to natural and...

Banks and the financial sector have come under increased scrutiny since the 2008 financial crisis. Regulations concerning the banking sector have been re-written and there have been calls for increased taxation of banks (as companies) and the remuneration of bankers. In general, two sorts of...

In this paper we propose an original model of competition for effective political power between majority and opposition coalitions. The model indicates that the electoral margin of the majority and the fragmentation of both coalitions are key variables that determine their effective political...

This paper examines the impact of three host country government policies (taxation, good governance, and infrastructure) on the host’s FDI stock. We focus on whether the impact of these factors differs depending on the level of development of the host country. The regression results indicate...

The main thesis of this paper is that in setting budget and regional development policies, public officials at the regional and central government levels must internalize that businesses are quite unlikely to be willing to pay taxes that are not matched by their desired level and quality of...

As the world becomes more globalized and resources become more internationally mobile, the issue of tax competition is moving to the forefront of debates surrounding national tax systems. Those who have studied taxation in a federal system of government will recognize that this debate is not...

New Jersey enacted an income tax in 1976 in response to a State Supreme Court ruling that held that local taxation alone violated the requirement of the State Constitution that all children receive a "thorough and efficient" education. The law required that revenues from the income tax be...

The exemption of the nonprofit sector from the corporate income tax is an implicit subsidy that has received little attention in the nonprofit literature A fundamental question concerning this subsidy is its rationale. The present analysis suggests that the theoretical basis for the rationale...