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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
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
We provide a model with a federal government and multiple local governments, the former with power to levy an income tax for redistribution, and the latter choosing a local income tax, property tax, lump-sum tax or subsidy, and a local public good. Policy is set by majority choice at each tier...
Persistent link: https://www.econbiz.de/10012910304
In this paper we investigate the empirical correlates of political centralization using data from the Standard Cross … the importance of high population density, inter-state warfare and trade as factors leading to political centralization …. We find that while in the whole world sample these factors are indeed positively correlated with political centralization …
Persistent link: https://www.econbiz.de/10013087288
We present a model where heterogeneous districts choose both whether to experiment and the policies to experiment with. Since districts learn from each other, the first-best requires that policy experiments converge so that innovations are useful also for neighbors. However, the equilibrium...
Persistent link: https://www.econbiz.de/10013073557
We examine the relationship between the diffusion of advanced internet technology and the geographic concentration of invention, as measured by patents. First, we show that patenting became more concentrated from the early 1990s to the early 2000s and, similarly, that counties that were leaders...
Persistent link: https://www.econbiz.de/10013055507
question then is why this has not happened in China. We argue that the answer lies in the degree of political centralization … believe the experience of Russia indicates that another ingredient is crucial, namely political centralization …
Persistent link: https://www.econbiz.de/10013231568
pluralism with privilege to the absence of both. They worried that centralization, democratic or otherwise, might be the …
Persistent link: https://www.econbiz.de/10013021037
national state based on the political agenda effect. State centralization induces citizens of different backgrounds, interests … investments in conflict capacity. In the absence of state centralization, citizens do not necessarily band together because of … social democratic party may sometimes induce state centralization (by removing the commitment value of a non …
Persistent link: https://www.econbiz.de/10012991695
a strong association between pre-colonial centralization and contemporary comparative development both across and within … countries. We also document that the strong link between pre-colonial political centralization and regional development -as …
Persistent link: https://www.econbiz.de/10013047023