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Transaction Costs in a Tiebout Setup

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  • Eitan BERGLAS
  • David PINES
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    Abstract

    The paper addresses three issues related to Tiebout-type equilibrium: (a) Is the property tax a second-best instrument? (b) Given the feasible instrument menu, is a Tiebout-type allocation with profit-maximizing suppliers of the LPG constrained efficient? (c) Given the ranking of instruments, are profit maximizing developers better equipped with instruments conductive to efficiency than local jurisdictions? It is shown that the property tax is not necessarily a second-best instrument, that Tiebout-type equilibrium is constrained efficient, and that developers in the strict sense lack the second-best instruments available to local governments.

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    File URL: http://www.jstor.org/stable/20076055
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    Bibliographic Info

    Article provided by ENSAE in its journal Annals of Economics and Statistics.

    Volume (Year): (1997)
    Issue (Month): 45 ()
    Pages: 183-197

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    Handle: RePEc:adr:anecst:y:1997:i:45:p:07

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    Cited by:
    1. Thierry Mayer & Keith Head, 2003. "The Empirics of Agglomeration and Trade," Working Papers, CEPII research center 2003-15, CEPII research center.
    2. Mion, Giordano, 2003. "Spatial Externalities and Empirical Analysis: The Case of Italy," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 03-38, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    3. PICARD, Pierre & THISSE, Jacques-François & TOULEMONDE, Eric, 2002. "Economic geography and the role of profits," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2002027, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. Combes, Pierre-Philippe & Lafourcade, Miren, 2001. "Transport Cost Decline and Regional Inequalities: Evidence from France," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2894, C.E.P.R. Discussion Papers.

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