The dynamic fiscal policy adjustment of local jurisdictions is investigated empirically using a panel of more than 1000 U.S. municipalities over a quarter of a century. Distinguishing ownsource revenue, grants, expenditures, and debt service, the analysis is carried out using a vector...

This note discusses the comparative dynamic analysis in "Fiscal competition in space and time" by David Wildas in (Journal of Public Economics, Vol. 87, 2003) from a technical point of view. -- dynamic tax competition ; imperfect capital mobility ; comparative dynamics ; Peano Theorem