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Devolution: the new federalism, an overview

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  • Robert Tannenwald

Abstract

In recent years, a growing number of scholars and policymakers have concluded that the federal government has become too large and powerful, intruding into affairs better handled by states and municipalities. Based on this premise, they have argued for a reduction in federal aid, the conversion of matching grants to block grants, greater flexibility for states in implementing federally funded programs, and curtailment of federal mandates. Their program is popularly referred to as “devolution,” the “devolving” of federal responsibilities to lower levels of government. The controversy that devolution has generated is the latest chapter in a debate over optimal intergovernmental arrange-ments that is as old as the nation itself.

Suggested Citation

  • Robert Tannenwald, 1998. "Devolution: the new federalism, an overview," New England Economic Review, Federal Reserve Bank of Boston, issue May, pages 1-12.
  • Handle: RePEc:fip:fedbne:y:1998:i:may:p:1-12
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    References listed on IDEAS

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    1. Nicholas Walraven, 1997. "Small business lending by banks involved in mergers," Finance and Economics Discussion Series 1997-25, Board of Governors of the Federal Reserve System (U.S.).
    2. William R. Keeton, 1995. "Multi-office bank lending to small businesses: some new evidence," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 45-57.
    3. Berger, Allen N. & Saunders, Anthony & Scalise, Joseph M. & Udell, Gregory F., 1998. "The effects of bank mergers and acquisitions on small business lending," Journal of Financial Economics, Elsevier, vol. 50(2), pages 187-229, November.
    4. Joe Peek & Eric S. Rosengren, 1995. "The effects of interstate branching on small business lending," Proceedings 462, Federal Reserve Bank of Chicago.
    5. Allen N. Berger & Anil K. Kashyap & Joseph M. Scalise, 1995. "The Transformation of the U.S. Banking Industry: What a Long, Strange Trips It's Been," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(2), pages 55-218.
    6. Philip E. Strahan & James Weston, 1996. "Small business lending and bank consolidation: is there cause for concern?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 2(Mar).
    7. Keeton, William R., 1995. "Multi-Office Bank Lending To Small Businesses: Some New Evidence," Proceedings: 1995 Regional Committee NC-207, October 16-17, 1995, Kansas City, Missouri 131493, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
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    Cited by:

    1. Levinson, Arik, 2003. "Environmental Regulatory Competition: A Status Report and Some New Evidence," National Tax Journal, National Tax Association, pages 91-106.
    2. Honadle, Beth Walter, 2001. "Theoretical and Practical Issues of Local Government Capacity in an Era of Devolution," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 31(1).

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