To carry out the analysis required for monetary policy, the European Central Bank (ECB) and the European System of … Central Banks (ESCB) need comprehensive and reliable government finance statistics. The focus of government finance statistics … people have the closest connection through their use of services that are either subsidised or directly provided by these …

governments. Local public goods are either financed by debt or taxation. A horizontal equalisation scheme eleviates regional … public revenue disparities under horizontal and vertical tax competition. We show that fiscal equalisation schemes have no … impact on the optimal central government grant whereas they can either soften or harden the regional budget constraint …