In this work we examine how economic growth affects public debt when interacted with reelection prospects. Reelection considerations shorten political time horizons and give rise to political myopia that exacerbates debt accumulation. That laxer institutional reelection restrictions (e.g. no...

This essay offers four principles of taxation by the United States government. Taken together, the principles would give rise to a no-gimmicks flat income tax. The rate of taxation would be expressed as a whole-number percentage, not to exceed 8%. The scope of taxation would be the entire income...

State budgets in the United States played a significant macroeconomic role in the 1970s and 1980s, and the level of cyclical responsiveness was affected by the severity of statutory and constitutional fiscal restraints. Moving from no fiscal restraints to the most stringent restraints lowered...

This paper examines whether greater fragmentation in local government improves efficiency. Tiebout quot;exitingquot; is the general theoretical underpinning for the belief that fragmentation should improve efficiency. This paper argues that previous evidence for the greater efficiency of...

We study the consequences of a large-scale austerity program targeting financially-constrained municipalities in Germany. For identification, we exploit the quasi-random assignment of treatment among equally-distressed municipalities using a difference-in-differences design. The policy helped...

Objective – The purpose of this paper is to develop the optimal economic and social model for the modern stage and analyze the Social Progress Index in Georgia. The research is based on the paradigm that “what we analyze, this determines the decisions we make”. Consequently, emphasis is...