We consider a Tiebout economy with di®erential crowding and public projects in which agents are distinguished by their tastes and genetic endowments. Agents choose which crowding characteristic, for example, skill, they wish to express, and this a®ects their value to other members of their jurisdiction, club, ̄rm, etc. An agent's choice is in°uenced both by his genetic endowment, which a®ects h...

Despite claims of a judicial funding crisis, there exists little direct evidence linking judicial budgets to court utilization. Using data on thousands of auto injuries covering a 15-year period, we measure the relationship between state-level court expenditures and the propensity of injured parties to pursue litigation. Controlling for state and plaintiff characteristics and accounting for the...

ABSTRACT The Tax Cuts & Jobs Act of 2017 (TCJA) limited interest deductibility. Using a difference-in-differences design, we show that following the enactment new limitations, affected firms significantly decrease their leverage. Specifically, find relative to unaffected U.S. firms, leverage by 7.6 percent assets, corresponding $330 million per firm and $84.8 billion for treatment sample. T...

This paper critically surveys the growing literature on policy choices of local governments. First, we identify various reasons for government interactions, including fiscal competition, bidding firms, yardstick expenditure spillovers, and Tiebout sorting. We discuss theoretically what parameters should be estimated to determine reason competition among emphasize how outcomes emerging from this...

regarding the decentralization of credits management, this study examined the effect of fiscal policies on gross domestic product of the iranian provinces over the period 2001-2009. therefore, we used dynamic panel data and employed gmm-sys method to examine the model. the results show that the government expenditure and tax multiplier coefficients are less than one in short - run but greater t...

This paper examines the evolution and functioning of fiscal decentralisation process and intergovernmental finance in the Republic of South Africa (RSA). It analyses the system of dividing revenues among the three spheres of government. The paper highlights the challenges of designing and implementing intergovernmental fiscal policies and institutions in the post-apartheid era. The paper argues...

BACKGROUND The effect of local infiltration after breast surgery is controversial. This prospective double blind randomized study sought to document the analgesic effect of local anaesthetic infiltration after breast cancer surgery. METHODS Patients scheduled for mastectomy or tumorectomy and axillary nodes dissection had immediate postoperative infiltration of the surgical wound with 20 ml o...

Most state (and local) governments in the U.S. operate under formal fiscal rules which limit their ability to run budget deficits and resort to debt financing. A priori, one would expect to find evidence in favor of an intertemporally balanced budget, or fiscal sustainability, for these states, especially those characterized by a relatively high degree of fiscal stringency. We test this hypothe...