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Hamilton, James D. - 2013

Much attention has been given to the recent growth of the U.S. federal debt. This paper examines the growth of federal liabilities that are not included in the officially reported numbers. These take the form of implicit or explicit government guarantees and commitments. The five major...

Persistent link: https://www.econbiz.de/10013078595

Fiscal Federalism and Legislative Malapportionment : Causal Evidence from Independent But Related Natural Experiments

Galiani, Sebastián - 2014

We exploit three natural experiments in Argentina in order to study the role of legislative malapportionment on the biased federal tax sharing scheme prevalent in the country. We do not find support to attribute it to legislative malapportionment during periods when democratic governments were...

Persistent link: https://www.econbiz.de/10013056579

Assistance to the Poor in a Federal System

Brown, Charles; Oates, Wallace E. - 2021

This paper explores the roles of different levels of government in assisting the poor. Using a model with utility interdependence, the paper presents some theoretical results on how levels of poor relief vary with the extent of mobility of the poor under both centralized and decentralized...

Persistent link: https://www.econbiz.de/10013213096

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

Evaluating the Efficiency and Equity of Federal Fiscal Equalization

Albouy, David - 2010

In theory, federal transfers that make household location decisions efficient should ignore local cost differences …, subsidize positive externalities, and offset differences in federal-tax payments and local taxes levied on non-residents, but …

Persistent link: https://www.econbiz.de/10013141358

Fiscal Unions

Werning, Iván - 2012

We study cross-country risk sharing as a second-best problem for members of a currency union using an open economy model with nominal rigidities and provide two key results. First, we show that if financial markets are incomplete, the value of gaining access to any given level of aggregate risk...

Persistent link: https://www.econbiz.de/10013102600

Is it is or is it Ain't My Obligation? Regional Debt in a Fiscal Federation

Cooper, Russell W. - 2015

This paper studies the repayment of regional debt in a multi-region economy with a central authority: who pays the obligation issued by a region? With commitment, a central government will use its taxation power to smooth distortionary taxes across regions. Absent commitment, the central...

Persistent link: https://www.econbiz.de/10012750657

An Optimal Taxation Approach to Fiscal Federalism

Gordon, Roger H. - 2021

the types of externalities that one unit of government can create for nonresidents, through both its public goods …

Persistent link: https://www.econbiz.de/10013210669

Coveting Thy Neighbor's Manuafacturing : the Dilemma of State Income Apportionment

Goolsbee, Austan - 2012

externalities on other states in that the effects of the apportionment formula on aggregate employment is zero. Every job gained …

Persistent link: https://www.econbiz.de/10012755998