The textbook view of the real property tax is that the tax rate is simply a residual, determined by dividing the revenue to be raised from the property tax by the taxable base of assessed values. As such, tax rate adjustment is automatic and changes in assessed values are neutral with respect to...

There is a broad consensus that India's fiscal situation worsened over the 1990s due to a sharp rise in the revenue deficit, which in turn has raised interest rates, crowded out private investment and hindered growth. This article critiques this consensus view. It shows, using Domar arithmetic,...

In January 2016, the Supreme Court granted certiorari in Murr v. Wisconsin, the first regulatory takings case to be decided by the Roberts Court. Because regulatory takings doctrine has little direct support in constitutional text, history, or precedent, arguments to expand regulatory takings...

When rights and obligations are not recognized as assets and liabilities on a government's balance sheet, the government's deficit can be reduced by selling off-balance-sheet assets or incurring off-balance-sheet liabilities. This paper examines how much progress has been made in recognizing...

This article examines fiscal illusions inpublic finance systems where decentralisation involving the introduction of an independent and autonomous component oflocal government funding brings new problems. It presents a synthesis ofthe findings from a Polish empirical study that set out to...