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Inefficiencies from Metropolitan Political and Fiscal Decentralization : Failures of Tiebout Competition

Calabrese, Stephen - 2011

-best allocation and show efficiency can be implemented with decentralization using head taxes. We calibrate the model and compare … decentralization and property taxation are large, dissipating most if not all the potential welfare gains that efficient … decentralization could achieve. In property tax equilibrium centralization is frequently more efficient! An externality in community …

Persistent link: https://www.econbiz.de/10012461406

Expenditure Competition

Gordon, Roger H. - 2001

response. In this paper, we explore the effect that competition for residents induced by fiscal decentralization has on 'waste … an additional advantage of fiscal decentralization …

Persistent link: https://www.econbiz.de/10012470537

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 … decentralization, because larger pools better internalize their externality on global hash rates, charge higher fees, attract …

Persistent link: https://www.econbiz.de/10012479545

From Lapdogs to Watchdogs : Random Auditor Assignment and Municipal Fiscal Performance

Vannutelli, Silvia - National Bureau of Economic Research - 2022

A classic problem in public finance is the over-expenditure of local governments in expectation of a bailout from higher-level administrations. While monitoring could mitigate agency problems, it can itself be rendered ineffective if auditors are corruptible. I evaluate whether limiting...

Persistent link: https://www.econbiz.de/10013462692

Unified Growth Theory : Roots of Growth and Inequality in the Wealth of Nations

Galor, Oded - National Bureau of Economic Research - 2024

What sparked humanity's leap from stagnation to prosperity? What lies at the core of inequality among nations? Unified Growth Theory explores the evolution of societies over the entire course of human history. It uncovers the universal wheels of change that have governed the journey of humanity,...

Persistent link: https://www.econbiz.de/10015171691

Are Big Cities Important for Economic Growth?

Turner, Matt; Weil, David N. - National Bureau of Economic Research - 2025

Cities are often described as engines of economic growth. We assess this statement quantitatively. We focus on two mechanisms: a static agglomeration effect that makes production in bigger cities more efficient, and a dynamic effect whereby urban scale impacts the productivity of invention,...

Persistent link: https://www.econbiz.de/10015194979

The Neoclassical Growth of China

Fernández-Villaverde, Jesús; Ohanian, Lee E.; Yao, Wen - National Bureau of Economic Research - 2023

This paper studies China's four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we argue that China's growth pattern is very similar to that of several other East Asia economies that initially grew very quickly. Second, we show that a minimalist...

Persistent link: https://www.econbiz.de/10014322739

Inequality and Measured Growth

Oberfield, Ezra - National Bureau of Economic Research - 2023

Compared to a half-century ago, inequality in the United states has risen and measured productivity growth has fallen. Concerns about rising inequality have been exacerbated by the observation that prices of goods consumed by the poor have risen faster than prices of goods consumed by the rich....

Persistent link: https://www.econbiz.de/10014248014

Superstars or Supervillains?$bLarge Firms in the South Korean Growth Miracle

Choi, Jaedo; Levchenko, Andrei A.; Ruzic, Dimitrije; … - National Bureau of Economic Research - 2024

We quantify the contribution of the largest firms to South Korea's economic performance over the period 1972-2011. Using firm-level historical data, we document a novel fact: firm concentration rose substantially during the growth miracle period. To understand whether rising concentration...

Persistent link: https://www.econbiz.de/10014635611

Growth in AI Knowledge

Gans, Joshua - National Bureau of Economic Research - 2025

Building on recent advances in the literature on knowledge creation and innovation (notably Carnehl and Schneider (2025), we propose a novel general equilibrium model that explicitly incorporates artificial intelligence (AI) as a decision-enhancing technology capable of interpolating between...

Persistent link: https://www.econbiz.de/10015421857