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Fiscal Federalism in Europe : Lessons from the United States Experience

Inman, Robert P.; Rubinfeld, Daniel L. - 2021

competition) against the inefficiencies of fiscal policy centralization (policy cycles and localized 'pork barrel' spending and …

Persistent link: https://www.econbiz.de/10013234060

What Does the European Union Do?

Alesina, Alberto; Angeloni, Ignazio; Schuknecht, Ludger - 2021

We construct a set of indicators to measure the policy-making role of the European Union (European Council, Parliament, Commission, Court of Justice, etc.), in a selected number of policy domains. Our goal is to examine the division of prerogatives between European institutions and national...

Persistent link: https://www.econbiz.de/10013215691

Fiscal Federalism and Optimum Currency Areas : Evidence for Europe from the United States

Sala-i-Martin, Xavier; Sachs, Jeffrey - 2022

The main goal of this paper is to estimate to what extent the federal government of the United States insures member states against regional income shocks. We find that a one dollar reduction in a region's per capita personal income triggers a decrease in federal taxes of about 34 cents and an...

Persistent link: https://www.econbiz.de/10013308484

Decentralized Mining in Centralized Pools

Cong, Lin William - 2019

The rise of centralized mining pools for risk sharing does not necessarily undermine the decentralization required for permissionless blockchains: Each individual miner's cross-pool diversification and endogenous fees charged by pools generally sustain decentralization, because larger pools...

Persistent link: https://www.econbiz.de/10012891776

Centralization, Fiscal Federalism and Private School Attendance

Nechyba, Thomas J. - 2021

attendance. In particular, the common perception that centralization of public school finance will necessarily lead to greater … centralization involves an extreme equalization of the kind observed in California. Furthermore, if centralization occurs through … schools in centralizing states imply that general public school quality does not drop as a result of such centralization …

Persistent link: https://www.econbiz.de/10013230372

Is Sugar Sweeter at the Pump? The Macroeconomic Impact of Brazil's Alternative Energy Program

Weidenmier, Marc D. - 2015

The recent world energy crisis raises serious questions about the extent to which the United States should increase domestic oil production and develop alternative sources of energy. We examine the energy developments in Brazil as an important experiment. Brazil has reduced its share of imported...

Persistent link: https://www.econbiz.de/10012750098

Renewable Energy Policies and Technological Innovation : Evidence Based on Patent Counts

Johnstone, Nick - 2013

This paper examines the effect of environmental policies on technological innovation in the specific case of renewable energy. The analysis is conducted using patent data on a panel of 25 countries over the period 1978-2003. It is found that public policy plays a significant role in determining...

Persistent link: https://www.econbiz.de/10012753707

Do Enlarged Fiscal Deficits Cause Inflation : The Historical Record

Bordo, Michael D.; Levy, Mickey D. - 2021

In this paper we survey the historical record for over two centuries on the connection between expansionary fiscal policy and inflation. As a backdrop, we briefly lay out several theoretical approaches to the effects of fiscal deficits on inflation: the earlier Keynesian and monetarist...

Persistent link: https://www.econbiz.de/10013250933

Open Borders in the European Union and Beyond : Migration Flows and Labor Market Implications

Kennan, John - 2017

In 2004, the European Union admitted 10 new countries, and wages in these countries were generally well below the levels in the existing member countries. Citizens of these newly-admitted countries were subsequently free to take jobs anywhere in the EU, and many did so. In 2015, a large number...

Persistent link: https://www.econbiz.de/10012965420

Automatic Stabilizers and Economic Crisis : Us vs. Europe

Dolls, Mathias - 2010

This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...

Persistent link: https://www.econbiz.de/10013139144