I present for the first time an empirical examination of the impact of total federal revenues on total sub-national proceeds. Prior theory recognizes that the effects of national revenues on sub-national revenue-raising are ambiguous. Earlier studies have focused on vertical relationships...

The paper argues that a second generation of regulatory policies seems to be in the making. A key feature of these new policies is that they do not have a more or less one-sided, ideological, approach to the phenomenon of regulation, as did first generation regulatory policies. Regulation is no...