The Institutions of Federalism: Toward an Analytical Framework
AbstractMature federations have relatively transparent delineations of authority among levels of government; subnational governments enjoy considerable autonomy in their expenditure, revenue, and debt policies. In other countries, problems of soft budget constraints, bailouts, and fiscal and financial instability demonstrate the difficulties of institutional design in a federation. This paper outlines an analytical framework within which interjurisdictional spillovers may create incentives for higher-level governments to intervene in the control and financing of lower-level governments (bailouts). This framework helps to identify directions for theoretical and empirical research that can illuminate important features of observed institutions and guide policy analysis.
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Bibliographic InfoPaper provided by EconWPA in its series Public Economics with number 0403006.
Length: 28 pages
Date of creation: 29 Mar 2004
Date of revision:
Note: Type of Document - pdf; pages: 28
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Web page: http://22.214.171.124
federalism; bailouts; soft budget constraint; externalities;
Other versions of this item:
- Wildasin, David E., 2004. "The Institutions of Federalism: Toward an Analytical Framework," National Tax Journal, National Tax Association, vol. 57(2), pages 247-72, June.
- D6 - Microeconomics - - Welfare Economics
- D7 - Microeconomics - - Analysis of Collective Decision-Making
- H - Public Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-04-04 (All new papers)
- NEP-PBE-2004-04-04 (Public Economics)
- NEP-PKE-2004-04-04 (Post Keynesian Economics)
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