Capitalization, decentralization, and intergenerational spillovers in a Tiebout economy with a durable public good
Author
Abstract
Suggested Citation
DOI: 10.1007/s00199-017-1094-4
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- John P. Conley & Robert Driskill & Ping Wang, 2017. "Capitalization, Decentralization, and Intergenerational Spillovers in a Tiebout Economy with a Durable Public Good," Vanderbilt University Department of Economics Working Papers 17-00003, Vanderbilt University Department of Economics.
References listed on IDEAS
- John Yinger, 1995. "Capitalization and Sorting: a Revision," Public Finance Review, , vol. 23(2), pages 217-225, April.
- Sandra E. Black, 1999.
"Do Better Schools Matter? Parental Valuation of Elementary Education,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(2), pages 577-599.
- Sandra E. Black, 1997. "Do better schools matter? Parental valuation of elementary education," Research Paper 9729, Federal Reserve Bank of New York.
- Brueckner, Jan K., 1982. "A test for allocative efficiency in the local public sector," Journal of Public Economics, Elsevier, vol. 19(3), pages 311-331, December.
- repec:bla:econom:v:39:y:1972:i:155:p:276-91 is not listed on IDEAS
- McGuire, Martin, 1974. "Group Segregation and Optimal Jurisdictions," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 112-132, Jan.-Feb..
- repec:cup:cbooks:9780521346627 is not listed on IDEAS
- Bewley, Truman F, 1981. "A Critique of Tiebout's Theory of Local Public Expenditures," Econometrica, Econometric Society, vol. 49(3), pages 713-740, May.
- repec:cup:cbooks:9780521561365 is not listed on IDEAS
- Wang, Ping, 1993.
"Money, competitive efficiency, and intergenerational transactions,"
Journal of Monetary Economics, Elsevier, vol. 32(2), pages 303-320, November.
- Wang, P., 1991. "Money, Competitive Efficiency and Intergenerational Transactions," Papers 10-91-6, Pennsylvania State - Department of Economics.
- Wildasin, David E. & Wilson, John Douglas, 1996. "Imperfect mobility and local government behaviour in an overlapping-generations model," Journal of Public Economics, Elsevier, vol. 60(2), pages 177-198, May.
- Christian Schultz & Tomas Sjöström, 2004. "Public Debt, Migration, and Shortsighted Politicians," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 6(5), pages 655-674, December.
- Brueckner, Jan K. & Joo, Man-Soo, 1991. "Voting with capitalization," Regional Science and Urban Economics, Elsevier, vol. 21(3), pages 453-467, November.
- Bergstrom, Theodore C & Cornes, Richard C, 1983. "Independence of Allocative Efficiency from Distribution in the Theory of Public Goods," Econometrica, Econometric Society, vol. 51(6), pages 1753-1765, November.
- Oates, Wallace E, 1969. "The Effects of Property Taxes and Local Public Spending on Property Values: An Empirical Study of Tax Capitalization and the Tiebout Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 77(6), pages 957-971, Nov./Dec..
- Cass, David & Shell, Karl, 1983. "Do Sunspots Matter?," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 193-227, April.
- Berglas, Eitan, 1976. "Distribution of tastes and skills and the provision of local public goods," Journal of Public Economics, Elsevier, vol. 6(4), pages 409-423, November.
- Balasko, Yves & Shell, Karl, 1980. "The overlapping-generations model, I: The case of pure exchange without money," Journal of Economic Theory, Elsevier, vol. 23(3), pages 281-306, December.
- Antonio Rangel, 2003. "Forward and Backward Intergenerational Goods: Why Is Social Security Good for the Environment?," American Economic Review, American Economic Association, vol. 93(3), pages 813-834, June.
- Brueckner, Jan K. & Wingler, Thomas L., 1984. "Public intermediate inputs, property values, and allocative efficiency," Economics Letters, Elsevier, vol. 14(2-3), pages 245-250.
- Charles M. Tiebout, 1956. "A Pure Theory of Local Expenditures," Journal of Political Economy, University of Chicago Press, vol. 64(5), pages 416-416.
- Thomas. J. Nechyba, 1997.
"Existence of equilibrium and stratification in local and hierarchical Tiebout economies with property taxes and voting,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 10(2), pages 277-304.
- Thomas J. Nechyba, 1996. "Existence of Equilibrium and Stratification in Local and Hierarchical Tiebout Economies with Property Taxes and Voting," NBER Technical Working Papers 0190, National Bureau of Economic Research, Inc.
- Laurence J. Kotlikoff & Robert W. Rosenthal, 1993.
"Some Inefficiency Implications Of Generational Politics And Exchange,"
Economics and Politics, Wiley Blackwell, vol. 5(1), pages 27-42, March.
- Laurence J. Kotlikoff & Robert W. Rosenthal, 1990. "Some Inefficiency Implication of Generational Politics and Exchange," NBER Working Papers 3354, National Bureau of Economic Research, Inc.
- David A. Starrett, 1997. "Mobility and Capitalization in Local Public Finance: A Reassessment," Working Papers 97006, Stanford University, Department of Economics.
- McCallum, Bennett T., 1983.
"The role of overlapping-generations models in monetary economics,"
Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 18(1), pages 9-44, January.
- Bennett T. McCallum, 1982. "The Role of Overlapping-Generations Models in Monetary Economics," NBER Working Papers 0989, National Bureau of Economic Research, Inc.
- Epple, Dennis & Filimon, Radu & Romer, Thomas, 1984. "Equilibrium among local jurisdictions: toward an integrated treatment of voting and residential choice," Journal of Public Economics, Elsevier, vol. 24(3), pages 281-308, August.
- Schultz, Christian & Sjostrom, Tomas, 2001.
"Local public goods, debt and migration,"
Journal of Public Economics, Elsevier, vol. 80(2), pages 313-337, May.
- Christian Schultz & Tomas Sjöström, "undated". "Local Public Goods, Debt and Migration," EPRU Working Paper Series 00-11, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
- Schultz, C. & Sjostrom, T., 2000. "Local Public Goods, Debt and Migration," Papers 6-00-1, Pennsylvania State - Department of Economics.
- Roland Bénabou, 1996. "Equity and Efficiency in Human Capital Investment: The Local Connection," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 63(2), pages 237-264.
- Michele Boldrin & Ana Montes, 2005.
"The Intergenerational State Education and Pensions,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 72(3), pages 651-664.
- Boldrin, Michele & Montes, Ana, 2002. "The Intergenerational State: Education and Pensions," CEPR Discussion Papers 3275, C.E.P.R. Discussion Papers.
- Michele Boldrin & Ana Montes, 2004. "The intergenerational state: education and pensions," Staff Report 336, Federal Reserve Bank of Minneapolis.
- John Geanakoplos, 2008. "Overlapping Generations Models of General Equilibrium," Cowles Foundation Discussion Papers 1663, Cowles Foundation for Research in Economics, Yale University.
- Wildasin, David E. & Wilson, John Douglas, 1998. "Risky local tax bases: risk-pooling vs. rent-capture," Journal of Public Economics, Elsevier, vol. 69(2), pages 229-247, June.
- Nguyen-Hoang, Phuong & Yinger, John, 2011. "The capitalization of school quality into house values: A review," Journal of Housing Economics, Elsevier, vol. 20(1), pages 30-48, March.
- Epple, Dennis & Romano, Richard & Sieg, Holger, 2012. "The intergenerational conflict over the provision of public education," Journal of Public Economics, Elsevier, vol. 96(3), pages 255-268.
- de Bartolome, Charles A M, 1990. "Equilibrium and Inefficiency in a Community Model with Peer Group Effects," Journal of Political Economy, University of Chicago Press, vol. 98(1), pages 110-133, February.
- Antonio Rangel, 2005. "How to Protect Future Generations Using Tax-Base Restrictions," American Economic Review, American Economic Association, vol. 95(1), pages 314-346, March.
- Kotlikoff, Laurence J & Persson, Torsten & Svensson, Lars E O, 1988. "Social Contracts as Assets: A Possible Solution to the Time-Consistency Problem," American Economic Review, American Economic Association, vol. 78(4), pages 662-677, September.
- Wooders, Myrna, 1978. "Equilibria, the core, and jurisdiction structures in economies with a local public good," Journal of Economic Theory, Elsevier, vol. 18(2), pages 328-348, August.
- Conley, John P. & Wooders, Myrna H., 2001. "Tiebout Economies with Differential Genetic Types and Endogenously Chosen Crowding Characteristics," Journal of Economic Theory, Elsevier, vol. 98(2), pages 261-294, June.
- DeSerpa, Allan C, 1977. "A Theory of Discriminatory Clubs," Scottish Journal of Political Economy, Scottish Economic Society, vol. 24(1), pages 33-41, February.
- Shell, Karl, 1971. "Notes on the Economics of Infinity," Journal of Political Economy, University of Chicago Press, vol. 79(5), pages 1002-1011, Sept.-Oct.
- John Geanakoplos, 2008. "Overlapping Generations Models of General Equilibrium," Levine's Working Paper Archive 122247000000002225, David K. Levine.
- repec:cup:cbooks:9780521477185 is not listed on IDEAS
- Konishi, Hideo, 1996. "Voting with Ballots and Feet: Existence of Equilibrium in a Local Public Good Economy," Journal of Economic Theory, Elsevier, vol. 68(2), pages 480-509, February.
- Sprunger, Philip & Wilson, John Douglas, 1998. "Imperfectly Mobile Households and Durable Local Public Goods: Does the Capitalization Mechanism Work?," Journal of Urban Economics, Elsevier, vol. 44(3), pages 468-492, November.
- Laurence J. Kotlikoff & Bernd Raffelhüeschen & Christian D. Hagist, 2009.
"How regional differences in taxes and public goods distort life cycle location choices,"
Hacienda Pública Española / Review of Public Economics, IEF, vol. 189(2), pages 47-79, June.
- Laurence Kotlikoff & Bernd Raffelhueschen, 1991. "How Regional Differences in Taxes and Public Goods Distort Life Cycle Location Choices," NBER Working Papers 3598, National Bureau of Economic Research, Inc.
- Mark Pauly, 1970. "Cores and clubs," Public Choice, Springer, vol. 9(1), pages 53-65, September.
- Yinger, John, 1982. "Capitalization and the Theory of Local Public Finance," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 917-943, October.
- Joseph E. Stiglitz, 1982. "The Theory of Local Public Goods Twenty-Five Years After Tiebout: A Perspective," NBER Working Papers 0954, National Bureau of Economic Research, Inc.
- Westhoff, Frank, 1977. "Existence of equilibria in economies with a local public good," Journal of Economic Theory, Elsevier, vol. 14(1), pages 84-112, February.
- Gerhard Glomm, 1992. "A Model of Growth and Migration," Canadian Journal of Economics, Canadian Economics Association, vol. 25(4), pages 901-922, November.
- Epple, Dennis & Zelenitz, Allan & Visscher, Michael, 1978. "A Search for Testable Implications of the Tiebout Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 86(3), pages 405-425, June.
- Hanushek, Eric A, 1986. "The Economics of Schooling: Production and Efficiency in Public Schools," Journal of Economic Literature, American Economic Association, vol. 24(3), pages 1141-1177, September.
- Gerhard Glomm & Roger Lagunoff, 1999. "A Dynamic Tiebout Theory of Voluntary vs. Involuntary Provision of Public Goods," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(3), pages 659-677.
- Chen, Been-Lon & Peng, Shin-Kun & Wang, Ping, 2009. "Intergenerational human capital evolution, local public good preferences, and stratification," Journal of Economic Dynamics and Control, Elsevier, vol. 33(3), pages 745-757, March.
- Kathy J. Hayes & Lori L. Taylor, 1996. "Neighborhood school characteristics: what signals quality to homebuyers?," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q IV, pages 2-9.
- Glaeser, Edward L, 1996.
"The Incentive Effects of Property Taxes on Local Governments,"
Public Choice, Springer, vol. 89(1-2), pages 93-111, October.
- Edward L. Glaeser, 1995. "The Incentive Effects of Property Taxes on Local Governments," NBER Working Papers 4987, National Bureau of Economic Research, Inc.
- repec:bla:econom:v:41:y:1974:i:164:p:446-50 is not listed on IDEAS
- Rose-Ackerman, Susan, 1979. "Market models of local government: Exit, voting, and the land market," Journal of Urban Economics, Elsevier, vol. 6(3), pages 319-337, July.
- John William Hatfield, 2008. "Backward Intergenerational Goods and Endogenous Fertility," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 10(5), pages 765-784, October.
- Wildasin, David E., 1979. "Local public goods, property values, and local public choice," Journal of Urban Economics, Elsevier, vol. 6(4), pages 521-534, October.
- Gerhard Glomm & Roger Lagunoff, 1999. "A Dynamic Tiebout Theory of Voluntary versus Involuntary Provision of Public Goods," Game Theory and Information 9901002, University Library of Munich, Germany.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Levon Barseghyan & Stephen Coate, 2017. "On the Dynamics of Community Development," NBER Working Papers 23674, National Bureau of Economic Research, Inc.
- Darong Dai & Dennis W. Jansen & Liqun Liu, 2021. "Inter-jurisdiction migration and the fiscal policies of local governments," Journal of Economics, Springer, vol. 132(2), pages 133-164, March.
- Holger Sieg & Daniele Coen-Pirani & Jeffrey Brinkman, 2015.
"The Political Economy of Underfunded Municipal Pension Plans,"
2015 Meeting Papers
345, Society for Economic Dynamics.
- Jeffrey Brinkman & Daniele Coen-Pirani & Holger Sieg, 2016. "The Political Economy of Underfunded Municipal Pension Plans," NBER Working Papers 22321, National Bureau of Economic Research, Inc.
- Darong Dai & Guoqiang Tian, 2023. "Optimal interregional redistribution and local budget rules with multidimensional heterogeneity," Review of Economic Design, Springer;Society for Economic Design, vol. 27(1), pages 79-124, February.
- Barseghyan, Levon & Coate, Stephen, 2021. "Community development by public wealth accumulation," Journal of Urban Economics, Elsevier, vol. 121(C).
- Darong Dai & Weige Huang & Liqun Liu & Guoqiang Tian, 2022. "Optimal Regional Insurance Provision: Do Federal Transfers Complement Local Debt?," Journal of Economics, Springer, vol. 137(1), pages 35-80, September.
- Darong Dai & Liqun Liu & Guoqiang Tian, 2019. "Interregional redistribution and budget institutions with private information on intergenerational externality," Review of Economic Design, Springer;Society for Economic Design, vol. 23(3), pages 127-154, December.
- Pan, Chen-Yu, 2020. "Protections from natural disasters as local public goods: Migration and local adaptations," Regional Science and Urban Economics, Elsevier, vol. 85(C).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Allouch, Nizar & Conley, John P. & Wooders, Myrna, 2009.
"Anonymous price taking equilibrium in Tiebout economies with a continuum of agents: Existence and characterization,"
Journal of Mathematical Economics, Elsevier, vol. 45(9-10), pages 492-510, September.
- Nizar Allouch & John P. Conley & Myrna Wooders, 2008. "Anonymous Price Taking Equilibrium in Tiebout Economies with a Continuum of Agents: Existence and Characterization," Vanderbilt University Department of Economics Working Papers 0811, Vanderbilt University Department of Economics.
- Christian A. L. Hilber, 2017.
"The Economic Implications of House Price Capitalization: A Synthesis,"
Real Estate Economics, American Real Estate and Urban Economics Association, vol. 45(2), pages 301-339, April.
- Christian A. L. Hilber, 2011. "The Economics Implications of House Price Capitalization: A Synthesis," SERC Discussion Papers 0091, Centre for Economic Performance, LSE.
- Hilber, Christian A. L., 2017. "The economic implications of house price capitalization: a synthesis," LSE Research Online Documents on Economics 62118, London School of Economics and Political Science, LSE Library.
- Hilber, Christian A. L., 2015. "The economic implications of house price capitalization: a synthesis," LSE Research Online Documents on Economics 61774, London School of Economics and Political Science, LSE Library.
- John P. Conley & Myrna Holtz Wooders, 1998. "The Tiebout Hypothesis: On the Existence of Pareto Efficient Competitive Equilibrium," Working Papers mwooders-98-06, University of Toronto, Department of Economics.
- Hilber, Christian A. L., 2011. "The economics implications of house price capitalization a survey of an emerging literature," LSE Research Online Documents on Economics 58596, London School of Economics and Political Science, LSE Library.
- Conley, John P. & Wooders, Myrna H., 2001. "Tiebout Economies with Differential Genetic Types and Endogenously Chosen Crowding Characteristics," Journal of Economic Theory, Elsevier, vol. 98(2), pages 261-294, June.
- Sigrid Röhrs & David Stadelmann, 2014. "Homeownership, Mobility, And Local Income Redistribution," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 16(4), pages 569-605, August.
- Nizar Allouch & John P. Conley & Myrna Wooders, 2006. "Anonymous Price Taking Equilibrium in Tiebout Economies with Unbounded Club Sizes," Working Papers 556, Queen Mary University of London, School of Economics and Finance.
- Conley, John P. & Konishi, Hideo, 2002.
"Migration-proof Tiebout equilibrium: existence and asymptotic efficiency,"
Journal of Public Economics, Elsevier, vol. 86(2), pages 243-262, November.
- John Conley & Hideo Konishi, 2001. "Migration-proof Tiebout equilibrium:Existence and asymptotic efficiency," Economics Bulletin, AccessEcon, vol. 28(1), pages 1.
- John P. Conley & Hideo Konishi, 2000. "Migration-Proof Tiebout Equilibrium: Existence and Asymptotic Efficiency," Boston College Working Papers in Economics 452, Boston College Department of Economics, revised 01 Dec 2000.
- Sigrid Roehrs & David Stadelmann, 2010. "Mobility and local income redistribution," Working Papers 2010/4, Institut d'Economia de Barcelona (IEB).
- Roger Hewett & Charles A. Holt & Georgia Kosmopoulou & Christine Kymn & Cheryl X. Long & Shabnam Mousavi & Sudipta Sarangi, 2005. "A Classroom Exercise: Voting by Ballots and Feet," Southern Economic Journal, John Wiley & Sons, vol. 72(1), pages 253-263, July.
- Christian A. L. Hilber & Christopher J. Mayer, 2004. "Why Do Households Without Children Support Local Public Schools?," NBER Working Papers 10804, National Bureau of Economic Research, Inc.
- Nicolai V. Kuminoff & V. Kerry Smith & Christopher Timmins, 2013. "The New Economics of Equilibrium Sorting and Policy Evaluation Using Housing Markets," Journal of Economic Literature, American Economic Association, vol. 51(4), pages 1007-1062, December.
- Nicolai V. Kuminoff & V. Kerry Smith & Christopher Timmins, 2010. "The New Economics of Equilibrium Sorting and its Transformational Role for Policy Evaluation," NBER Working Papers 16349, National Bureau of Economic Research, Inc.
- Shin-Kun Peng & Ping Wang, 2003. "Sorting by Foot: Consumable Travel-for Local Public Good and Equilibrium Stratification," IEAS Working Paper : academic research 03-A008, Institute of Economics, Academia Sinica, Taipei, Taiwan.
- Nizar Allouch & John P. Conley & Myrna Wooders, 2006.
"Anonymous Price Taking Equilibrium in Tiebout Economies with Unbounded Club Sizes,"
Working Papers
556, Queen Mary University of London, School of Economics and Finance.
- Nizar Allouch & John P. Conley & Myrna Wooders, 2006. "Anonymous Price Taking Equilibrium in Tiebout Economies with Unbounded Club Sizes," Working Papers 556, Queen Mary University of London, School of Economics and Finance.
- Stephanie Riegg Cellini & Fernando Ferreira & Jesse Rothstein, 2008.
"The Value of School Facilities: Evidence from a Dynamic Regression Discontinuity Design,"
NBER Working Papers
14516, National Bureau of Economic Research, Inc.
- Stephanie Riegg Cellini & Fernando Ferreira & Jesse Rothstein, 2008. "The Value of School Facilities: Evidence from a Dynamic Regression Discontinuity Design," Working Papers 1104, Princeton University, School of Public and International Affairs, Education Research Section..
- Stephanie Riegg Cellini & Fernando Ferreira & Jesse Rothstein, 2008. "The Value of School Facilities: Evidence from a Dynamic Regression Discontinuity Design," Working Papers 1101, Princeton University, Department of Economics, Center for Economic Policy Studies..
- Edward Cartwright & Myrna Wooders, 2005.
"The Law od Demand in Tiebout Economies,"
Vanderbilt University Department of Economics Working Papers
0527, Vanderbilt University Department of Economics.
- Cartwright, Edward & Conley, John & Wooders, Myrna, 2005. "The Law of Demand in Tiebout Economies," The Warwick Economics Research Paper Series (TWERPS) 734, University of Warwick, Department of Economics.
- Cartwright, Edward & Conley, John & Wooders, Myrna, 2005. "The Law of Demand in Tiebout Economies," Economic Research Papers 269627, University of Warwick - Department of Economics.
- Daniel A. Broxterman & Trenton Chen Jin, 2022. "House Prices, Government Quality, and Voting Behavior," The Journal of Real Estate Finance and Economics, Springer, vol. 64(2), pages 179-209, February.
- Barseghyan, Levon & Coate, Stephen, 2021. "Community development by public wealth accumulation," Journal of Urban Economics, Elsevier, vol. 121(C).
- Gravel, Nicolas & Thoron, Sylvie, 2007.
"Does endogenous formation of jurisdictions lead to wealth-stratification?,"
Journal of Economic Theory, Elsevier, vol. 132(1), pages 569-583, January.
- Nicolas Gravel & Sylvie Thoron, 2003. "Does endogenous formation of jurisdictions lead to wealth stratification?," IDEP Working Papers 0306, Institut d'economie publique (IDEP), Marseille, France.
More about this item
Keywords
Durable local public goods; Capitalization and intergenerational spillover effects; Dynamic Tiebout Equilibrium; Welfare analysis;All these keywords.
JEL classification:
- H4 - Public Economics - - Publicly Provided Goods
- D9 - Microeconomics - - Micro-Based Behavioral Economics
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:67:y:2019:i:1:d:10.1007_s00199-017-1094-4. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.