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The paper presents a Keynesian fiscal policy multiplier model with a federal system of government. The state and local government sector purchases over 60% of the goods and services purchased by the public sector, and receives transfer payments from the federal government. However, state and...
Persistent link: https://www.econbiz.de/10013134848
This paper analyzes how subnational governments allocate own resources between current spending and infrastructure investment and decide on borrowing under the expectation of federal bailouts. It is assumed that states' borrowing possibilities increase with the expectation of such bailouts...
Persistent link: https://www.econbiz.de/10013120740
the nature of Argentine federalism when recent presidential administrations support conflicting conclusions about it … congress, implying that federalism is weak. Fernando De la Rúa (1999–2001) faced considerable provincial and congressional … opposition, implying that federalism is strong. To resolve this puzzle, I recast federalism in terms of its economic context. I …
Persistent link: https://www.econbiz.de/10013150632
designated as “Bayanihan Federalism”, has spurred vigorous debate, with much discussion focusing on the fiscal repercussions of …-sharing mechanisms of the Bayanihan Federalism draft, and the likely political acceptability levels of adopting them among existing local … trade-offs embedded in the revenue-sharing and functional assignment proposals of Bayanihan Federalism — especially when …
Persistent link: https://www.econbiz.de/10012909989
This paper examines centralization of fiscal policies during the financial and economic crisis, from 2007-2012. We use … set logic and QCA methodology to trace out configurations of conditions to explain events of centralization of fiscal … centralization it is necessary to take into consideration a combination of multiple factors. Following this logic, we find that a …
Persistent link: https://www.econbiz.de/10013005441
Persistent link: https://www.econbiz.de/10012438222
To understand how intergovernmental relations affect political budget cycles (PBCs) within federal countries, we model the credibility problems of discretionary fiscal policy in combination with a national incumbent that favors aligned districts. Analyzing Argentina's provinces during the...
Persistent link: https://www.econbiz.de/10011568866
Abstract: Der Finanzföderalismus zeichnet sich durch eine inhärente Ineffizienz aus, die gerade in den letzten zwei Jahrzehnten besonders sichtbar wurde: nachlässige Budgetbeschränkungen. Der Band trägt zur Erforschung des Finanzföderalismus mit der Absicht bei, die Erwartungen an...
Persistent link: https://www.econbiz.de/10011674770
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Persistent link: https://www.econbiz.de/10011875587