Suchergebnisse

Growth in per-capita taxes between 1970 and 1980 is analyzed for a group of 28 large cities. Investigating the effect of tax-base composition on long-run growth reveals higher rates of tax growth for low-property-tax cities, which is partly explained by recession-induced tax increases. Such increases are not rescinded during subsequent periods of economic expansion, and the net effect is a ratcheting phenomenon in local tax growth similar to that observed for state governments. Policy considerations support the need for better financial management practice, further consideration of a countercyclical revenue sharing program, and more careful attention to variations in local tax structures in modeling local government fiscal behavior.

This article presents an analysis of empirical research on the course of agricultural prices and wages in Maryland over the century 1750 to 1850. An attempt has been made to present the data in a form comparable to other studies for other regions. In addition to the long-term movement of price and wage series the paper focuses on the use of these data to draw inferences on changes in the standard of living and productivity growth.

Enacted in 1972, general revenue sharing added a new dimension to the intergovernmental grant system in the United States of America. Unlike traditional categorical grant programs predicated on an externality or some other efficiency-based rationale, revenue sharing addressed issues of vertical and horizontal fiscal imbalances as well as political concerns about the growing influence of the federal bureaucracy in the fiscal affairs of states and localities. Scheduled to terminate at the end of fiscal year 1986, revenue sharing nevertheless remains a viable concept in reckoning the makeup of a well-ordered intergovernmental grant system. It is with an eye toward future deliberations about such a program that this paper is written. The findings from six years of research at the Brookings Institution are drawn upon, and a review is given of the lessons learned about the role of such a program and how the design of any future revenue sharing program might be enhanced, with specific emphasis on greater equity and more effective integration of federal and state roles in addressing the causes and consequences of local-area fiscal disparities.