Institutional and financial relations across levels of government
In: Oecd Fiscal Federalism Studies
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In: Oecd Fiscal Federalism Studies
World Affairs Online
In: CEPAL Review, No. 84, pp. 133-155, December 2004
SSRN
In: International review of administrative sciences: an international journal of comparative public administration, Band 66, Heft 1, S. 119-142
ISSN: 1461-7226
In: International review of administrative sciences: an international journal of comparative public administration, Band 66, Heft 1, S. 119
ISSN: 0020-8523
In: CEPAL review, Heft 84, S. 117-134
ISSN: 0251-2920
World Affairs Online
In: Think Piece. Transparency & Accountability Initiative, 2014
SSRN
In: CEPAL review, Band 2004, Heft 84, S. 133-155
ISSN: 1684-0348
In: CEPAL review, Heft 84, S. 135-157
ISSN: 0251-2920
World Affairs Online
In: OECD fiscal federalism studies
In: CEPAL review, Band 2004, Heft 84, S. 115-132
ISSN: 1684-0348
In: Public choice, Band 99, Heft 1-2, S. 119-138
ISSN: 0048-5829
In: Comparative political studies: CPS, Band 7, Heft 4, S. 430-440
ISSN: 0010-4140
A DEFINITION OF BASIC CONCEPTS IS USED IN ANY STUDY OF LOCAL GOVERNMENT AND POLITICS IN CROSS-NATIONAL PERSPECTIVE. BASIC CONCEPTS ARE DEFINED AND OBJECTS TO BE COMPARED ARE SPECIFIED. THE PAPER OFFERS SEVERAL METHODS OF MEASURING THE EXTENT OF LOCAL AUTONOMY AND THE USEFULNESS OF THE PROPOSED CONCEPTS AND METHODS IS ALSO POINTED OUT.
In: Peace research reviews, Band 11, Heft 2, S. 3
ISSN: 0553-4283
In this paper, we quantitatively analyze to what extent a benevolent government should issue debt in a model where households are subject to idiosyncratic productivity shocks, insurance markets are missing and borrowing is restricted. In this environment, issuing government bonds facilitates saving for self-insurance. Despite this, we find that in a calibrated version of the model that is consistent with the skewed wealth and earnings distribution observable in the U.S., the government should buy private bonds, and not issue public debt in the long run. The reason is that in the U.S., a large fraction of the population has almost no wealth or is even in debt. The wealth-poor, however, do not profit from an increase in the interest rate following an increase in public debt. Instead, they gain from higher wages that result from a reduction in debt. We show that even when the short run costs of higher capital taxation are taken into account, it still pays off to reduce government debt on overall. Moreover, we find that endogenizing household's borrowing constraints by assuming limited commitment leads to even higher asset levels being optimal in the long run.
BASE
In: Better Regulation in Europe; Better Regulation in Europe: Sweden 2010, S. 167-179