Suchergebnisse

"State and Local Public Finance provides a comprehensive and sophisticated analysis of state and local government public finance practices and issues, using the basic tools of economics. This fifth edition maintains its focus on key local services such as education, healthcare and transportation, and brings in new coverage of land use and housing, applications from behavioural economics, and more international comparisons. This textbook provides an examination and analysis of public finance practices and problems in a federal fiscal system, focusing on the fiscal behaviour and policies of state and local governments. Modern economic theory is applied to examine the way key institutions are used to produce and finance services, and to provide evaluation of alternative policies. This stalwart text will continue to be invaluable reading for those who study public finance, local government finance, urban economics, public policy and public administration"--

"State and Local Public Finance provides a comprehensive and sophisticated analysis of state and local government public finance practices and issues, using the basic tools of economics. This fifth edition maintains its focus on key local services such as education, healthcare and transportation, and brings in new coverage of land use and housing, applications from behavioural economics, and more international comparisons. This textbook provides an examination and analysis of public finance practices and problems in a federal fiscal system, focusing on the fiscal behaviour and policies of state and local governments. Modern economic theory is applied to examine the way key institutions are used to produce and finance services, and to provide evaluation of alternative policies. This stalwart text will continue to be invaluable reading for those who study public finance, local government finance, urban economics, public policy and public administration"--

"Real Property Tax in Local Public Finance" published on by Oxford University Press.

In fiscal year 1981-82, state and local government spending actually exceeded federal nondefense spending. However, past research in public finance has focused on federal spending and policies and paid little attention to the economic problems of state and local governments. Studies in State and Local Public Finance goes far in correcting this omission. Developed from a National Bureau of Economic Research conference on state and local financing, the volume includes papers summarizing and extending recent research as well as commentaries. Covering a wide range of topics, the papers share an em

This work deals with local governments and fiscal stress. In the first chapter, I analyze the response of individual housing sales prices to negative information or "news" about local public debt levels and their underlying impact on the provision of public goods and services. In particular, I use the announcement that rising levels of unfunded pension liabilities for the San Diego City Employees' Retirement System (SDCERS) were higher than previously perceived. In the second chapter, I analyze the effect of fiscal stress on local government fiscal structures. For this analysis, I focus on the sudden investment losses of nearly $1.7 billion in 1994 that led to Orange County's default on debt obligations and bankruptcy. In the third chapter, I analyze how local governments underfund their public pensions over the business cycle—where unfunded pension liabilities serve as an effective way to borrow from the public workforce. I look at changing levels of unfunded pension liabilities and the local government characteristics over the 2001 and 2008 recessions.

In fiscal year 1981-82, state and local government spending actually exceeded federal nondefense spending. However, past research in public finance has focused on federal spending and policies and paid little attention to the economic problems of state and local governments. Studies in State and Local Public Finance goes far in correcting this omission. Developed from a National Bureau of Economic Research conference on state and local financing, the volume includes papers summarizing and extending recent research as well as commentaries. Covering a wide range of topics, the papers share an empirical orientation and a concern with policy issues. The first two papers look at the role of tax-exempt bonds in local public finance. Their findings suggest that tax policies significantly affect municipal borrowing practices and that financial advantage can be achieved under certain of these practices. Other papers address specific issues related to state and local tax policy: the impact of local taxes on location decisions; efficient road-use charges for trucks; and the relation of income and general sales tax systems over time. Examining issues related to United States federalism, the last paper focuses on the impact of federal grant aid to states. The research and findings these papers report make an important contribution to the study of local public finance and should be of particular interest to policymakers and those involved in private and public financing at the local, state, or federal level

This paper investigates the development of local public finance in Germany, Switzerland, Poland and the United Kingdom. In this context important characteristics of municipal expenditures and revenues are examined in these countries. Differences in government structure (i.e. unitary or federal) do not appear to have a crucial role for municipal finance. The ways to protect local fiscal autonomy are discussed in the framework of the vertical fiscal equalisation system. In particular the application of the principle of parallel fiscal development between a state and its municipalities is examined.

In most local developing settings, the political leader and the municipal manager are embodied in the same figure, the directly elected mayor. This research explores the impact of mayoral quality on local public finances in a developing country. Mayoral quality is operationalized as educational background and job‐related expertise to analyze its impact on two local financial indicators: property tax collection and social spending per capita. The mayoral quality thesis is tested across 40 Colombian municipalities over five years (2000–2004). After considering other political, economic, and external influences, the findings reveal that mayoral quality is associated with greater property tax collection and more social spending per capita. This positive influence, however, decreases under external constraints—such as presence of illegal armed groups. This study demonstrates how much influence the mayor can have when circumstances permit. The findings point to the significance of electing qualified mayors, as decentralization may not directly improve subnational finance. Instead, through decentralization, qualified mayors contribute to improved local public finance.

THE TUNISIAN GOVERNMENT HAS LONG ADMITTED THAT ITS EXCESSIVELY CENTRALIZED ADMINISTRATIVE AND POLITICAL SYSTEMS HAVE GENERATED HEAVY COSTS IN TERMS OF INEFFICIENCY AND CITIZEN ALIENATION. A MAJOR DECENTRALIZING REFORM EFFORT WAS LAUNCHED IN THE MID-1970S, THE MOST IMPORTANT PARTS OF WHICH DEALT WITH CHANGES IN LOCAL TAXATION POWERS, AND IN THE SOURCES AND SIZE OF GRANTS AND LOANS WHICH TUNISIAN COMMUNES RECEIVE FROM NATIONAL SOURCES. THE RESULT TO DATE HAS BEEN A MODEST INCREASE IN COMMUNAL REVENUES FROM THE NEW OR INCREASED TAXES, AND A MORE SIGNIFICANT INCREASE IN CENTRAL GOVERNMENT GRANTS TO LOCAL GOVERNMENTS. SMALLER AND MORE RURAL COMMUNES ARE HEAVILY DEPENDENT ON GRANTS TO UNDERTAKE DEVELOPMENT ACTIONS, THEIR TAX BASE BEING NEGLIGIBLE. THE REVISED SYSTEM GENERATES MORE REVENUE, AND DISTRIBUTES RESOURCES MORE EQUITABLY, THAN THE PREVIOUS ARRANGEMENTS. IN THEORY, IT GIVES A GREATLY INCREASED LATITUDE TO ELECTED COMMUNAL COUNCILS. NONETHELESS, THE LOCAL GOVERNMENTS-AND THE COMMUNES IN PARTICULAR-REMAIN SEVERLY CONSTRAINED BY CENTRAL GOVERNMENT AUTHORITIES. THE CONCLUSION IS THAT THE DECENTRALIZATION REFORM HAS BEEN PARTIAL AND HALTING, AND WILL IN ALL PROBABILITY CONTINUE IN THE SAME MANNER.