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Fiscal Dynamics of Local Elected Officials

Author

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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

Suggested Citation

  • Bhattacharyya, D K & Wassmer, Robert W, 1995. "Fiscal Dynamics of Local Elected Officials," Public Choice, Springer, vol. 83(3-4), pages 221-249, June.
  • Handle: RePEc:kap:pubcho:v:83:y:1995:i:3-4:p:221-49
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    References listed on IDEAS

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    1. repec:cup:apsrev:v:84:y:1990:i:01:p:149-163_19 is not listed on IDEAS
    2. Nirvikar Singh & Donald Wittman, 2001. "Contests where there is variation in the marginal productivity of effort," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 18(3), pages 711-744.
    3. Coker, David C & Crain, W Mark, 1994. "Legislative Committees as Loyalty-Generating Institutions," Public Choice, Springer, vol. 81(3-4), pages 195-221, December.
    4. Arye L. Hillman & John G. Riley, 1989. "Politically Contestable Rents And Transfers," Economics and Politics, Wiley Blackwell, vol. 1(1), pages 17-39, March.
    5. repec:cup:apsrev:v:80:y:1986:i:01:p:89-106_18 is not listed on IDEAS
    6. Brian Roberson, 2006. "The Colonel Blotto game," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 29(1), pages 1-24, September.
    7. Glazer, Amihai & Hassin, Refael, 1988. "Optimal Contests," Economic Inquiry, Western Economic Association International, vol. 26(1), pages 133-143, January.
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    Cited by:

    1. Jan Kluge & Gunther Markwardt & Christian Thater, 2015. "Self-preserving Leviathans - Evidence from Regional-level Data," CESifo Working Paper Series 5177, CESifo Group Munich.
    2. Martial Foucault & Thierry Madies & Sonia Paty, 2008. "Public spending interactions and local politics. Empirical evidence from French municipalities," Public Choice, Springer, pages 57-80.
    3. Nuno Ribeiro & Susana Jorge & Mercedes Cervera, 2013. "Estudo do Endividamento da Administração Local Portuguesa: Evidência Empírica USando Modelos de Análise de Dados em Painel," Notas Económicas, Faculty of Economics, University of Coimbra, issue 38, pages 46-67, December.
    4. 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.
    5. 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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