. We show the potential existence of a poverty trap as a result of decentralization in taxation decisions. …

This paper described a theory of capital allocation for decentralized businesses, taking into account the costs …

-transfers, which distorts the central-local distribution of resources. Applying the model to fiscal decentralization, we find when … decentralization widens local governments' fiscal gap, borrowings by both local and central governments rise. Quantitatively, fiscal … decentralization accounts for from 19 percent to 40 percent of changes in general government debt in Spain during 1988-2006. A …

Fiscal decentralization is on the rise worldwide while barriers to factor and population mobility are declining … this combination of decentralization and mobility may have on political and economic outcomes. As these trends have become … models and data has taken on particular importance. Complex general equilibrium models of fiscal decentralization ultimately …

these laws, and (3) the degree of decentralization of jurisdictions with respect to local public goods. It is suggested that … decentralization, with adverse consequences for economic efficiency. The paper concludes with a brief normative discussion of …

paper compares three regimes (centralization, decentralization and federalism) in an economy where individuals choose their … move from decentralization to federalism, called moral federalism, is welfare improving behind the veil of ignorance if and … only if centralization dominates decentralization, and (ii) for the group that favors a restrictive policy moral federalism …