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"--

Capital expenditure by subnational governments in the United States represents about two percent of GDP and 12 percent of state–local spending. Persistent differences among states exist in the amount and composition of this capital expenditure. This regression‐based research examines for the decade of the 2000s: (1) the factors affecting capital spending and interstate differences; (2) the effect of recessions; (3) the response to American Recovery and Reinvestment Act (ARRA) stimulus funds; (4) state and year fixed effects; and (5) investment for highways and K‐12 education. Aggregate capital expenditure is relatively stable, although it increased around recessions, with ARRA grants especially important and substantial state‐specific influences.

This article examines Michigan's 1994–95 shift from its system of K–12 public education being funded largely by local property taxes, to it being funded predominately by statewide revenue sources. We briefly describe events that led up to the adoption of Michigan's school finance reform and then go into some detail about the tax and revenue‐sharing specifics. Since the structure of Michigan's school finance reform is complex, somewhat unique, and likely to be considered as a model for other states to duplicate, this examination will assist policy analysts and policymakers throughout the United States. Other states considering similar reforms will benefit from the simulations we provide with regard to the likely long‐run results of Michigan's school finance reform.