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Fiscal Dynamics of Local Elected Officials

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  • Bhattacharyya, D K
  • Wassmer, Robert W

Abstract

The fiscal behavior of local elected officials is examined in a dynamic model where officials maximize an intertemporal objective function in two stages. Officials first decide upon an optimal mix of revenue and expenditure and then minimize loss and adjustment-cost functions. The model is tested using data from the twenty most populated U.S. cities whose mayor was elected on a four-year cycle. The empirical results support the model. Fiscal behavior differs between cities and local fiscal decisions made by elected officials are in part dependent on the timing of elections. Copyright 1995 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Public Choice.

Volume (Year): 83 (1995)
Issue (Month): 3-4 (June)
Pages: 221-49

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Handle: RePEc:kap:pubcho:v:83:y:1995:i:3-4:p:221-49

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Web page: http://www.springerlink.com/link.asp?id=100332

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Cited by:
  1. Panayiotis Mavros & Philip J. Grossman & Robert W. Wassmer, . "Public Sector Inefficiency In Large U.S. Cities," Economics Working Papers 1996-6, School of Economics and Management, University of Aarhus.
  2. Martial Foucault & Thierry Madies & Sonia Paty, 2008. "Public spending interactions and local politics. Empirical evidence from French municipalities," Public Choice, Springer, vol. 137(1), pages 57-80, October.
  3. Kausik Chaudhuri & Sugato Dasgupta, 2005. "The political determinants of central governments' economic policies in India: an empirical investigation," Journal of International Development, John Wiley & Sons, Ltd., vol. 17(7), pages 957-978.
  4. David Bartolini & Raffaella Santolini, 2009. "Fiscal Rules and the Opportunistic Behaviour of the Incumbent Politician: Evidence from Italian Municipalities," CESifo Working Paper Series 2605, CESifo Group Munich.

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