In recent years, local governments across the country have passed crime-free housing ordinances (CHOs) for private-market rental properties. These ordinances increase the risk of eviction for many tenants by requiring or encouraging private-market landlords to evict tenants for low-level...

Fiscal federalism is a fiscal system in federative states, which, however, can exist in unitary states aswell if there are more than one carrier of fiscal government. It includes relations between higher and lower political-territorial units concerning authorisation for establishing and...

Based on Ethereum blockchain, Decentralized Autonomous Organization (DAO) provides a possible solution to decentralized governance, and many Decentralized Finance (DeFi) applications adopt the novel governance mechanism. However, by analyzing governance in Maker protocol, we find that...

Medicaid’s federal-state matching system of financing is the nation’s largest example of fiscal federalism. Using generous federal subsidies, the Affordable Care Act incentivized states to expand Medicaid, which became a state option in the aftermath of a 2012 Supreme Court ruling. As of...

A long-standing puzzle in the fiscal federalism literature is the empirical non-equivalence in government spending from grants and other income. I propose a fully rational model in which violations of fungibility arise from dynamic interactions between politicians and interest groups with the...

Differentiating between standard risk measures and downside risk has a longstanding tradition in finance. Interestingly, this fundamental distinction has been neglected in the literature on risk sharing. Drawing on a simple definition in Markowitz (1959), we translate downside-risk metrics...

China's key forested region is located in the northeast and consists of state forest enterprises which manage forest harvesting and reforestation. Deforestation is a major problem there and has resulted in several central government reforms. We develop a framework for assessing the social cost...

The current system of federalism undermines the social and economic equality of the people of the United States. Although states have broad responsibilities to provide basic services, they have vastly different financial capacities. Some states are richer while others are poorer, and these...

This chapter examines collaborative public management (CPM) in the context of the existing, fragmented regional governance structure. In particular, the chapter discusses the limitations of CPM in managing orderly land use planning and intra-regional fiscal inequity due to the inherent tension...