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-agent framework, it analyzes two alternative policy-decision schemes - "decentralization" and "centralization" - when "knowledge …
Persistent link: https://www.econbiz.de/10010126407
federalism in which centralization is less likely to occur where budget referendums are possible. The reason for this result is … that budget referendums reduce the extent to which pro-centralization regions can commit to a low level of spending … delegating the centralization choice to elected poli-cymakers. In addition, it reduces the ability of higher level policy …
Persistent link: https://www.econbiz.de/10011408427
a broader set of countries leads to better understanding of the factors behind heavy centralization in the region. The …
Persistent link: https://www.econbiz.de/10005134090
-agent framework, it analyzes two alternative policy-decision schemes decentralization' and centralization' when knowledge' consists of …
Persistent link: https://www.econbiz.de/10010323005
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This paper analyzes the relationship between the size of an economic union and the degree of policy centralization. We … consider a political economy setting in which elected representatives bargain about the degree of centralization within the … outcome. We show that the relationship between the size of the union and centralization may be non-monotonic: Up to a certain …
Persistent link: https://www.econbiz.de/10003790724
Persistent link: https://www.econbiz.de/10003792820
implications of three different fiscal regimes for capital accumulation and aggregate national welfare. Full centralization of … is similar across regions. When regional differences exist but are not too large, the partial centralization regime is …
Persistent link: https://www.econbiz.de/10003451831