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Equalization transfers and the pattern of municipal spending : an investigation of the flypaper effect in Germany
Langer, Sebastian; Korzhenevych, Artem - 2018
We investigate how lump-sum equalization transfers affect expenditures and taxes in the municipalities of the largest … German state North Rhine-Westphalia. In general, those general-purpose transfers cannot be treated as exogenous variables … instrumental variables. Findings suggest the existence of the "flypaper effect" - municipalities use transfers to increase …
Persistent link: https://www.econbiz.de/10011833912
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Municipal financing opportunities in Canada : how do cities use their fiscal space?
Meloche, Jean-Philippe; Vaillancourt, François - 2021
Persistent link: https://www.econbiz.de/10012497067
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Political fragmentation and fiscal policy : evidence from German municipalities
Bernard, René - 2017
The government fragmentation hypothesis (GFH) states that coalition governments spend more than single-party governments due to an underlying common pool problem. Using a large panel data set on 604 local governments in the German state of Baden-Württemberg for the 1994-2014 period, I test the...
Persistent link: https://www.econbiz.de/10011730078
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Calling All Issuers : The Market for Debt Monitoring
Chen, Huaizhi; Cohen, Lauren; Liu, Weiling - National Bureau of Economic Research - 2022
A substantial fraction of local governments refinance their long-term debt with significant delays - resulting in sizable losses. Using data from 2001 to 2018, we estimate that U.S. municipals lost over $31 billion from this delayed refinancing, whereas the entire U.S. corporate sector, facing...
Persistent link: https://www.econbiz.de/10012938759
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Reflections on measuring urban fiscal health
Bird, Richard M. - 2014
Persistent link: https://www.econbiz.de/10010382107
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Can state and local revenue and expenditure enhance economic growth? : a cross-state panel study of fiscal activity
Clarke, Christopher Arthur; Miller, Stephen M. - 2014
Persistent link: https://www.econbiz.de/10010415512
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The flypaper effect in Germany : an East-West comparison
Korzhenevych, Artem; Langer, Sebastian - 2016
We investigate the effect of general-purpose transfers on different expenditure categories and tax rates in the … suggest the existence of the "flypaper effect" - municipalities use transfers to increase expenditures but do not reduce taxes …
Persistent link: https://www.econbiz.de/10011562932
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The dynamic response of municipal budgets to revenue shocks
Helm, Ines; Stuhler, Jan - 2021
Persistent link: https://www.econbiz.de/10012511873
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The dynamic response of municipal budgets to revenue shocks
Helm, Ines; Stuhler, Jan - 2021
We study the fiscal and tax response to intergovernmental grants, exploiting quasi-experimental variation within Germany’s fiscal equalization scheme triggered by Census revisions of official population counts. Municipal budgets do not adjust instantly. Instead, spending and investments adapt...
Persistent link: https://www.econbiz.de/10012514567
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The dynamic response of municipal budgets to revenue shocks
Helm, Ines; Stuhler, Jan - 2021
We study the fiscal and tax response to intergovernmental grants, exploiting quasi-experimental variation within Germany's fiscal equalization scheme triggered by Census revisions of official population counts. Municipal budgets do not adjust instantly. Instead, spending and investments adapt...
Persistent link: https://www.econbiz.de/10012518088