Showing 1 - 10 of 10,190
Persistent link: https://www.econbiz.de/10001760280
Persistent link: https://www.econbiz.de/10009667184
Persistent link: https://www.econbiz.de/10012594509
We develop a model of Tiebout sorting based on decentralized income taxation, which allows for spillovers and imperfect rivalry in consumption of the publicly provided good. We identify three sources of welfare loss from decentralization: Imperfect redistribution, inter-jurisdictional...
Persistent link: https://www.econbiz.de/10012061833
For decades the rhetoric of federalism has been an important part of the debate over welfare reform. The alignments … alignments and the stereotyped quality of most federalism rhetoric, skeptics might argue that this is an arena in which “the …, the abstractions comprising the rhetoric of federalism serve to mask conflicts and lead us to apply our normative concerns …
Persistent link: https://www.econbiz.de/10014189172
We extend the literature on local income tax competition by allowing for inter-jurisdictional spillovers and imperfect rivalry in consumption of a publicly provided good. Comparing decentralized second-best results of a theoretical model with an efficient benchmark, we identify three...
Persistent link: https://www.econbiz.de/10011436089
Persistent link: https://www.econbiz.de/10012231282
Persistent link: https://www.econbiz.de/10009554652
Does a monetary union need fiscal shock absorbers helping the participating countries to cope with asymmetric shocks? The consensus in the debate over EMU argues that the answer is yes. In this paper, we revisit the issue, building on a dynamic, general equilibrium framework of regions in a...
Persistent link: https://www.econbiz.de/10010514294
This paper addresses arguments that a system of fiscal insurance between member states of the European Union is needed to act in replacement of nominal exchange rate flexibility as an automatic stabilizer under monetary union. Many authors have argued or assumed that asymmetric real...
Persistent link: https://www.econbiz.de/10010515710