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There appears to be a strong upward drift in policy-related economic uncertainty after 1960. We consider two classes of explanations for this rise. The first stresses growth in government spending, taxes, and regulation. A second stresses increased political polarization and its implications for...
Persistent link: https://www.econbiz.de/10010785640
In many parts of the world, lower levels of government are taking over responsibilities from national authorities. This often leads to difficulty in maintaining fiscal discipline. So-called soft budget constraints allow these subnational governments to expand expenditures without facing the full...
Persistent link: https://www.econbiz.de/10004973218
Choropleth disease maps have become the main tool for communicating information about the geography of health threats to the public. These maps have the potential to shape perceptions of threat, preferences about policy, and perhaps even behavior, but they are unfortunately often poorly designed...
Persistent link: https://www.econbiz.de/10012597511
In order to address classic questions about democratic representation in countries with winner-take-all electoral districts, it is necessary to understand the distribution of political preferences across districts. Recent formal theory literature has contributed new insights into how parties...
Persistent link: https://www.econbiz.de/10013137149
We develop a political economy model of intergovernmental transfers. Vertical fiscal balance occurs in a federation when the ratio of the marginal benefit of the public services provided by the federal and provincial governments is equal to their relative marginal costs of production. With...
Persistent link: https://www.econbiz.de/10013074381
There appears to be a strong upward drift in policy-related economic uncertainty after 1960. We consider two classes of explanations for this rise. The first stresses growth in government spending, taxes, and regulation. A second stresses increased political polarization and its implications for...
Persistent link: https://www.econbiz.de/10013060677
Since the early 1980s fiscal and political decentralization have spread around the world. But decentralization can encourage dangerous opportunistic behavior by state and local officials. Left unrestricted, such opportunism can undermine macroeconomic stability and other objectives. The most...
Persistent link: https://www.econbiz.de/10012556521
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