FinanzArchiv Public Finance Analysis · 2006 · 56 citations · 19 references
Public AffairsEconomicsPublic FinanceFiscal PolicyPublic EconomicsTaxationFiscal DeficitsFiscal EqualizationIntergovernmental TransfersRegional RedistributionVertical Fiscal ImbalanceVertical Fiscal RelationsEquilibriumFiscal AsymmetryImbalanceMacroeconomic ImbalancesPublic Funds UseRedistributive Federal TransfersRegional EqualizationVertical Fiscal Externalities
egative. In the absence of commitment, the equilibrium transfer is unambiguously larger than the optimal fiscal gap, resulting in a positive fiscal imbalance.
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Does Federalism Lead to Excessively High Taxes?
Michael Keen, Christos Kotsogiannis · American Economic Review · 2002 · 349 citations