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-post federal policy internalizes horizontal fiscal externalities, insulating tax policy from capital mobility. Federal policy … externalities welfare-deteriorating relative to tax competition. …
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-post federal policy internalizes horizontal fiscal externalities, insulating tax policy from capital mobility. Federal policy … externalities welfare-deteriorating relative to tax competition. …
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This paper takes a mechanism design approach to federalism and assumes that local preferences are the private … information of local jurisdictions. Contractual federalism is defined as a strategy-proof contract among the members of the … coalition manipulations are equivalent to voting rules on uniform policies. -- Federalism ; Asymmetric Information ; Strategy …
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