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Equalization transfers and the pattern of municipal spending : an investigation of the flypaper effect in Germany
Langer, Sebastian; Korzhenevych, Artem - 2018
We investigate how lump-sum equalization transfers affect expenditures and taxes in the municipalities of the largest … German state North Rhine-Westphalia. In general, those general-purpose transfers cannot be treated as exogenous variables … instrumental variables. Findings suggest the existence of the "flypaper effect" - municipalities use transfers to increase …
Persistent link: https://www.econbiz.de/10011833912
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Political fragmentation and fiscal policy : evidence from German municipalities
Bernard, René - 2017
The government fragmentation hypothesis (GFH) states that coalition governments spend more than single-party governments due to an underlying common pool problem. Using a large panel data set on 604 local governments in the German state of Baden-Württemberg for the 1994-2014 period, I test the...
Persistent link: https://www.econbiz.de/10011730078
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Calling All Issuers : The Market for Debt Monitoring
Chen, Huaizhi; Cohen, Lauren; Liu, Weiling - National Bureau of Economic Research - 2022
A substantial fraction of local governments refinance their long-term debt with significant delays - resulting in sizable losses. Using data from 2001 to 2018, we estimate that U.S. municipals lost over $31 billion from this delayed refinancing, whereas the entire U.S. corporate sector, facing...
Persistent link: https://www.econbiz.de/10012938759
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Reflections on measuring urban fiscal health
Bird, Richard M. - 2014
Persistent link: https://www.econbiz.de/10010382107
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The flypaper effect in Germany : an East-West comparison
Korzhenevych, Artem; Langer, Sebastian - 2016
We investigate the effect of general-purpose transfers on different expenditure categories and tax rates in the … suggest the existence of the "flypaper effect" - municipalities use transfers to increase expenditures but do not reduce taxes …
Persistent link: https://www.econbiz.de/10011562932
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On the increasing centralization of U.S. money and credit
Bhidé, Amar - 2020
Persistent link: https://www.econbiz.de/10012264620
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Looking for appropriate forms of intergovernmental transfers for municipalities in transition economies
Nam, Chang-woon; Parsche, Rüdiger - 2001
Intergovernmental transfers can be either conditional or unconditional with regard to the autonomy of local governments … provides primarily unconditional transfers for local governments. Furthermore, in the case of adopting the principle of … transfers appears to gain significance in providing local utilities, this study shows the recent Saxon experience with the …
Persistent link: https://www.econbiz.de/10011408426
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Fiscal crises in U.S. cities : structural and non-structural causes
Wolff, Guntram B. - 2004
Persistent link: https://www.econbiz.de/10002469354
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Pandemics change cities : municipal spending and voter extremism in Germany, 1918-1933
Brickle, Kristian - 2020 - Revised June 2020
This paper uses several historical data-sets from Germany to show that influenza mortality in 1918-1920 was correlated with (i) lower per-capita spending, especially on services consumed by the young, in the following decade and (ii) the share of votes received by extremist parties in 1932 and...
Persistent link: https://www.econbiz.de/10012211163
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U.S. State and Local Government Finances Over the Current Cycle
Bayoumi, Tamim - 1992
The recent slowdown in the U.S. economy has led to state and local government tax increases and expenditure cuts that have lowered aggregate demand, in contrast to earlier downturns when the sector provided significant automatic stabilizers. Several explanations for this change are examined,...
Persistent link: https://www.econbiz.de/10014397852