In some ways, a 2012 symposium on “Dilemmas of State Debt” may seem a bit behind the news curve. At the end of 2010, municipal bond markets were in a deep funk. Analysts predicted that countless municipalities and perhaps one or more of the United States might default on their debt...

We analyze the relationship between senate malapportionment and the allocation of the US federal budget to the states during the period 1978-2002. A substantial literature originating from the influential paper by ?) finds that small and overrepresented states get significantly larger shares of...

This paper investigates the political economy of fiscal reform activism in Argentina since the late 1980s. Between 1988 and 2008, tax legislation was changed 83 times, fiscal federal rules 14 times, and budgetary institutions sixteen times. Tax and budgetary reforms moved from centralizing...

Research on the distribution of federal expenditures has provided mixed evidence showing that states with more legislators who belong to the president's party and states with more legislators in the chamber majority tend to receive a larger allocation of federal funds. We add to this research by...

The coordination of fiscal policies between states or municipalities collides with their individual spending and taxing power. When independently adopted, budget rules can potentially endanger the overall need for macroeconomic stabilisation. Utilising the example of the Swiss cantons, the paper...

India`s fiscal problem has deep roots in its federal fiscal system, where multiple players find it difficult to coordinate adjustment. The size and closed nature of the Indian economy, aided by its deep domestic capital market and large captive pool of domestic savings, has disguised the cost of...

We investigate the consequences of a peaceful shift of power from one social group to another. Theoretically, we show that an individual's decision to stay put or migrate depends on the difference between the political preferences of groups and the change in tax. Empirically, we use the case of...

We investigate the consequences of a peaceful shift of power from one social group to another. Theoretically, we show that an individual’s decision to stay put or migrate depends on the difference between the political preferences of groups and the change in tax. Empirically, we use the case...

The business model used by Congress to pay for Social Security, Medicare and national debt is our costliest federal mandate. Because they run a national retirement plan without using compound interest, Congress makes us pay TWELVE dollars to do a ONE-dollar job. This business model is the root...

The 73rd and 74th Amendments in 1992 to India's Constitution resulted in the establishment of the third-tier of government comprising of urban local bodies (ULBs) and Panchayati Raj Institutions (PRIs). The amendments mandated the establishment of the State Finance Commissions (SFCs) at every...