In this paper the inflation hedging characteristics of Hong Kong real estate market are examined using 1998-2006 data. Both short-term and long-term methods are used. The short-term method follows Fama and Schwert framework. To separate expected and unexpected inflation rate from nominal...

An important element in considering school finance policies is that households are not passive. Instead they respond to policies with a combination of modified residential choice and political choice of tax levels. The highly stylized decision models of most existing analyses, however, lead to...

Tax motivated takings are takings by a local government aimed purely at increasing its tax base. Such an action was justified by the Supreme Court's ruling in Kelo v. New London, which allowed the use of eminent domain for a private redevelopment project on the grounds that the project promised...

This work represents analysis of the system of interbudgetary relations in the subjects of the Russian Federation in 2007. Main attention is paid to the issue of providing municipalities with the sources of revenue needed to carry out their powers assigned to them by the Federal legislation. In...

This paper includes proposals for regional administrations and local governments on the issue of performance based budgeting implementation developed as a result of analysis both of the role and place of those mechanisms in the system of regional and municipal governance as a whole and...

This paper investigates competition between jurisdictions in the context of cross-border shopping for state lottery tickets. Our theoretical model, in which consumers consider both travel costs and lottery payoffs, predicts that per-resident sales should be more responsive to prices in small...

By improving access, without altering the underlying information, computerization of land registration provides a unique case to test for credit supply effects of improved land administration that have often been elusive in the literature. We exploit the variation in the timing of the shift from...

Real income on Bornholm is described by comparing the region with the <p> capital area and the country. Region specific prices are constructed for housing <p> expenditure and for services. Weights for these parts of household budgets and the <p> residual are found from panel surveys of household...</p></p></p>

The historical centripetal behavior of the government has made the border regions as periphery of the central areas in Iran. The regional disparities in Iran root in the economic structure of the country. Iran is one of the main exporters of petroleum and natural gas. The huge revenues of...

State borders create a discontinuous tax treatment of retail sales. In a Nash game, local tax rates will be higher on the low-state-tax side of a border. Local taxes will decrease from the nearest high-tax border and increase from the low-tax border. Using driving time from state borders and all...