A resurgence of recent interest in fiscal federalism has been a source of concern among macroeconomic stabilization experts. They argue that a decentralized fiscal system poses a threat to macroeconomic stability as it is incompatible with prudent monetary and fiscal management. The author...

The authors provide an empirical framework for assessing the effects of tax policy on an array of producer decisions about output supplies and input demands in Mexico, Pakistan, and Turkey. They specify and estimate a dynamic production structure model with imperfect competition for selected...

Intergovernmental fiscal transfers are a dominant feature of subnational finance in most countries. They are used to ensure that revenues roughly match the expenditure needs of various orders (levels) of subnational governments. They are also used to advance national, regional, and local area...

In analyzing the institutional environment for macroeconomic management, the author discusses monetary policy, fiscal policy, and subnational borrowing. In analyzing the macroeconomic dimensions of securing an economic union, he discusses the regulatory environment, tax coordination, transfer...

Most OECD countries have committed themselves to stabilizing their carbon emission at 1990 levels by the year 2000, and some to reducing emissions to 80-90 percent of 1990 levels by the years 2005 and 2010. Most non-OECD countries are reluctant to reduce emissions to combat global climate...

During the past two decades, a silent revolution in public sector governance has swept across the globe aiming to move decision making for local public services closer to the people. The countries embracing and adapting to this silent revolution have had diverse motives and followed even more...

The authors propose four economic principles for use in deciding taxing responsibilities for various levels of government. These are: 1) efficiency of the internal common market - for efficiency in internal common market, taxes on mobile factors and tradable goods should either be assigned to...

Larsen and Shah present evidence on the level of fossil fuel subsidies and their implications for carbon dioxide emissions. They conclude that substantial fossil fuel subsidies prevail in a handful of large, carbon-emitting countries. Removing such subsidies could substantially reduce national...

The federal authority for macroeconomic management in Brazil has experienced a profound change as a result of the institutional changes that culminated with the promulgation of a new Federal Constitution in October of 1988. This paper examines the implications of the new fiscal arrangements for...