In the wake of the economic downturn of 2008–2009, researchers and policymakers have focused considerable attention on the extent of unfunded liabilities in US public sector pension plans and the implications for the long term fiscal sustainability of state and local governments. In response to the growth in liabilities, many states have introduced legislation that cuts back on defined benefit ...

Strategic models of auditor-inspectee interaction have neglected implementation details in multiple-inspectee settings. With multiple inspectees, the target audit probability derived from the standard analysis can be implemented with sampling plans differing in the budgets committed to support them. Overly-committed audit budgets tie up unneeded resources that could have been allocated for bett...

The dynamic fiscal policy adjustment of local jurisdictions is investigated empirically using a panel of more than 1000 U.S. municipalities over a quarter of a century. Distinguishing own revenues, grants, expenditures, and debt service, the analysis is carried out using a vector error correction model which takes account of the intertemporal budget constraint. The results indicate that a large...

From 1991 to 2009, the fraction of Medicaid recipients enrolled in HMOs and other forms of Medicaid managed care (MMC) increased from 11 percent to 71 percent. This increase was largely driven by state and local mandates that required most Medicaid recipients to enroll in an MMC plan. Theoretically, it is ambiguous whether the shift from fee-for-service into managed care would lead to an increa...

(1) BACKGROUND: Many disorders and diseases of agricultural produce change the physical features of surfaces of plant organs; in terms of russet, e.g., of apple or pear, affected fruit peel becomes rough and brown in color, which is associated with changes in light reflection; (2) OBJECTIVE AND METHODS: The objective of the present project was an interdisciplinary approach between horticultural...

Empirical research has given cause to fear that the demographic ageing in industrialized countries is likely to exert a negative impact on educational spending. These papers have linked the share of the elderly with the per capita or per pupil spending on education at the local, state-wide or national level, trying to control for other exogenous effects. Although this line of research shows in ...

This paper estimates a locational choice model to assess the demand for local public services, using a data set where individuals chooses between 26 municipalities within a local labor market. We assess the importance of the IIA assumption by comparing the predictions of three difference models; the conditional logit (CL) model, the mixed logit (MXL) model, and the multinomial probit (MNP) mode...

Through utilizing US state-level data at annual frequency from 1976 to 2008, this paper documents a causal effect of infrastructure investments, specifically public spending on highways, on income inequality. The number of seats in the US House of Representatives Committee On Appropriations serves as a valid instrument to identify quasi-random variations in state-level spending on highways. Whe...

Large changes in government revenues can have disruptive effects on the action of states and increase uncertainty in the economy. In the interwar period, and during the Great Depression years in particular, many countries experienced such events. This paper investigates how the composition of taxes and countries’ fiscal capacity interacted with economic conditions to determine the evolution of ...

Article history: Received 7 July 2014 Received in revised form 12 February 2015 Accepted 13 February 2015 Available online 24 February 2015 Central government bailouts of local governments are commonly viewed as a recipe for localfiscal indiscipline, as local governments learn that the center will come to the rescue in times of trouble. However, little is known about the consequences of bailout...