In federal countries, such as the U.S., the fiscal authority consists not of one, but many governments, with state governments accounting for a sizable share of expenditures. We analyze how state partisanship of politicians affects state fiscal policy and quantify the possible macroeconomic...

Financial markets are perplexed by economic functioning, policies undertaken by the then government which is determined by elections wherein civilians interact and create noise that adds predictable bias while evaluating portfolios. This chapter takes the stand against the possibility of...

Worker cooperatives are enterprises owned by employees who are sharing the decision taking. This form of enterprises is an old one in Europe but the recent crisis has underlined their capacity of resilience. Furthermore, worker cooperatives are non purchasable and non relocatable. So, it has...

The present work looks at the relationship between institutional structure and economic performance at the regional level. The work focuses on one particular aspect, the number of municipalities in a given region (municipal fragmentation) and the impact on regional development measured as GDP...

The paper uses the consolidation of municipalities brought about by the Fascist dictatorship in Italy during the 1920s to gauge the role of the size of local jurisdictions for economic development. It finds that the consolidation was associated with relevant net welfare gains for the communities...