This paper makes five contributions to designing a new fiscal regime for Scotland:1). It provides the intellectual case for fiscal autonomy in Scotland, and examines explicitly how far autonomy should go. 2). It provides a blueprint for how the tax system could be devolved, and explains why.3)....

In some ways, a 2012 symposium on “Dilemmas of State Debt” may seem a bit behind the news curve. At the end of 2010, municipal bond markets were in a deep funk. Analysts predicted that countless municipalities and perhaps one or more of the United States might default on their debt...

According to the results of Q3 2022, total revenues of consolidated budgets of the subjects of the Russian Federation amounted to Rb14.06 trillion, which is by 17.9% higher than the value of this indicator for the same period in 2021 and exceeds the annual inflation rate. These figures have been...

The government's 2010 Comprehensive Spending Review was anything but comprehensive. The cuts to government spending were modest, and large swathes of state activity were barely touched. Britain will remain a heavily regulated, high-tax, high-spend economy. Instead of totally reviewing the...

California faces a significant pension-funding crisis. It has increased government-worker pensionbenefits repeatedly since the 1980s. Meanwhile, a California Supreme Court doctrine—theCalifornia Rule—has been understood to forbid cutting benefits for any currently employedgovernment workers,...