Download or read book Essays in Public Finance and Financial Management written by John E. Petersen and published by Chatham, N.J. : Chatham House Publishers. This book was released on 1980 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Municipal Finance written by Jonathan E. Jensen (Researcher in management science) and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the first chapter I explore property tax limits in Massachusetts. Since the 1870s, 46 states have placed limits on the ability of local governments to collect property taxes. It is unclear whether these policies prevent excessive spending or constrain efficient investment in public goods and services. Using referendum data from Massachusetts, I find that easing property tax limits leads to an increase in educational spending and government salaries, and a decrease in pension underfunding. Using municipal bond spreads and house prices as a proxy for the efficiency of increased municipal investment, I find that property tax limits inefficiently constrain local governments in Massachusetts. Easing these constraints leads to a 10-bps reduction in bond spreads and a 3% increase in house prices. The effects are stronger when tax referendums are large, and when the resulting revenue is used for education. In the second chapter I explore the long term causes and consequences of property tax reform throughout the United States. I find that increases in real estate value are associated with a higher probability of property tax reform. I find that following reforms, local revenues fall, the state share of education spending increases, and state income taxes increase, while total state and local taxes remain the same. I identify potential winners and losers from property tax reform. I find that ex-ante low-income and low education spending counties benefit while high-income and high education spending counties are worse off. I find no evidence that state governments are more or less efficient at service provision than local governments. In the third chapter (joint with Fiona Paine), we investigate the impact of cybersecurity risk and cyber attacks on municipal finances. Cyber attacks are estimated to cost billions of dollars per year. We use a dataset of municipal ransomware attacks merged with hand collected IT investment data and municipal bond data. Following a ransomware attack, municipal bond yields fall by 10 bps and IT investment as a share of total town expenditure increases by 0.23%. We investigate potential channels leading to decreased yields post hacking. We find evidence that being hacked reduces cyber risk by disciplining municipalities to move closer to the optimal level of IT spending.

Download or read book Essays on Municipal Public Finance in Brazil written by Rachel Elizabeth Gardner and published by . This book was released on 2013 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies local public finance in Brazil, with a focus on how federal and state government policies affect local spending and revenue generation. In Chapter I, I provide a descriptive analysis of local public finance in Brazil, with a focus on local revenue generation. In addition to describing the system of public finance in Brazil from a municipal perspective, I discuss the major challenges facing local governments in Brazil and in other low and middle income countries and present the reader with a descriptive picture of local revenue generation in Brazilian municipalities using publicly available data on municipal accounting records, municipal population and GDP, and municipal revenue generation infrastructure and administration. In Chapter II, I study the relationship between intergovernmental transfers and local revenue generation in Brazil. A major consideration in designing an intergovernmental transfer system is the concern that government transfers may "crowd out" local revenue generation. While traditional public finance theory suggests that this will be the case, empirical findings often refute this theoretical prediction in favor of the so-called Flypaper Effect. I take advantage of exogenous changes to state formulas determining the municipalities' share of value-added tax resources as an instrument for endogenous transfers to estimate local revenue generation responses to transfers. I find no evidence that government transfers reduce local per capita revenue generation in the context of two states in Northeastern Brazil, contributing to the limited body of rigorous evidence finding that intergovernmental transfers do not necessarily reduce incentives for local revenue generation and that the Flypaper Effect can indeed exist in certain contexts. In Chapter III, I measure the impact of Brazil's personnel expenditure limits imposed as a component of its Law of Fiscal Responsibility, implemented in 2001. Personnel expenditure limitations require that municipalities spend no more than 60% of liquid current receipts on personnel. I measure the expenditure limit's impacts on a series of public finance outcomes by comparing changes in outcomes among those bound by the limits (those that were initially above the limit) to those just below the limit using a difference-in-difference regression framework with municipality fixed effects and controlling for state-specific flexible time trends. Chapter III adds to the large body of literature examining the impacts of tax and expenditure limits (TELs) but is one of the few to do so outside of the US context. It is also one of the few studies of expenditure limitations rather than tax limitations, as most of the US TELs are focused on limiting taxation rather than spending. While Brazil's personnel expenditure limits are generally successful in reducing personnel expenditures, municipalities seem to be substituting non-personnel expenditures for personnel expenditures rather than slowing the growth of total expenditures. At the same time, the expenditure limits seem to encourage municipalities to ease their spending constraints by increasing revenues where they can. The net effect is a small but significant reduction in deficit spending.

Download or read book Essays in Political Economy and International Public Finance written by Áron Kiss and published by Peter Lang. This book was released on 2009 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coalitions and political accountability -- Divisive politics and accountability -- Minimum taxes and repeated tax competition -- Summary in German.

Download or read book The Twenty year Century written by Felix G. Rohatyn and published by New York : Random House. This book was released on 1983 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Municipal Finance written by Adam Found and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Public Debts written by Henry Carter Adams and published by . This book was released on 1890 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Finnish Municipal Finance and Intergovernmental Grants written by Antti Moisio and published by . This book was released on 2002 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: Yhteenveto.

Download or read book Municipal Finance Land Use and Spatial Interdependence written by and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Government Finance written by Wenjing Li (Economist) and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation focuses on topics related to government finance, including tax policy and local government finance. Specifically, this dissertation starts with a research on how changes in deed tax policy have affected the real estate market prices in China. In general, I find a negative deed tax effect on the residential real estate market prices. This study contributes to the literature by providing an intertemporal and spatial analysis of the deed tax effects. My findings indicate that the government's policy of manipulating the deed tax rates to affect the Chinese real estate market has been effective. The second and third essays focus on local government finance by analyzing debt finance versus tax finance in U.S. cities and debt finance versus land finance in Chinese cities, respectively. In the second essay, I investigate household location reactions to local government finance choices between debt and taxes. I find that more reliance on debt finance over tax finance by cities weakly but significantly encourages residents to move. In this analysis, I use fiscally standardized U.S. city data which enables meaningful comparison among cities. In the third essay, I estimate land finance effects on local government debt financing in China. After correcting for selection bias, I find that cities tend to issue more quasi-municipal bonds when the land markets perform well, but do not seem to consider the land market fluctuations and economic conditions. This study contributes to the literature by providing an insightful analysis of local government borrowing in the prefecture-level cities and informs policymakers on the risks of using quasi-municipal bonds in China.

Download or read book Public Debts written by Henry Carter Adams and published by . This book was released on 1887 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Municipal Finance Land Use and Spatial Interdependence written by Sebastian Langer and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Public Finance and Welfare written by Charles Ward Macy and published by . This book was released on 1966 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Sociology and the Theory of Public Finance written by Richard E. Wagner and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rejecting conventional approaches, the author offers a view of public finance as one element of a broader scheme of social theorizing. The book assumes a working knowledge of the standard conceptual framework within which the theory of public finance is commonly presented.

Download or read book Three Essays in Public Finance written by Shiyuan Chen and published by LAP Lambert Academic Publishing. This book was released on 2008 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation comprises three essays in public finance. The first essay is a research of a theory of trading of club goods and its application to jurisdiction. The essay establishes a model of trading of club goods among clubs, and illustrates its effects on the process and outcome of club formation. Cost function as well as disutility of crowdedness is emphasized and integrated into the process of club formation, after allowing for exchanging club good among clubs. In the process, the essay develops a market for club goods. Then the model is revised and applied to the formation of jurisdictions. The second essay comes out of an interest regarding household demand, poverty and public goods in developing countries. The essay explores household food consumption in Jamaica and estimates the effects of related variables. With Jamaica Survey of Living Conditions 2001 data, the essay estimates an Engel curve which reflects the relation between household food consumption and related variables. What's more, to investigate the possible neighborhood effect on food consumption, the essay tests and estimates the spatial correlation among neighborhood food consumption. The estimated results can be applied to poverty reduction policy. The third essay extends the theme of poverty, consumption, and government programs by analyzing one other public program--education. Education is closely linked to poverty alleviation. Determining the demand for education and the return to education will help government focus programs aimed at reducing drop-out rates and in the long run, poverty in the country. The essay applies discrete time survival analysis techniques to analyze education duration in Jamaica. Based on Jamaica Survey of Living Conditions 2002, the essay estimates the effects of household, individual and other related covariates on dropout risks of students. The essay compares discrete time Cox model and discrete time logit model and concludes that the two estimations are consistent. The estimation results could be used to predict the effects of changes in the covariates, or be used to predict the dropout risks of particular students in each grade, both of which could provide useful policy implications to improve education in Jamaica.

Download or read book Macroeconomic Dimensions of Public Finance written by Mario Blejer and published by Routledge. This book was released on 2002-09-11 with total page 518 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no magic formula for balancing fiscal policy and economic performance. As a scholar and policy advisor, Vito Tanzi has made a major contribution to identifying links between public finance and macro and microeconomic consequences. His findings bear relevance in both developing and industrialized economies. The essays in this volume and its companion, Fiscal Policy and Economic Reform, highlight many of these interconnected issues, for instance: * the interaction between budgetary policy and economic aggregates, such as employment, inflation and growth * the implication of economic linkages for designing fiscal policies * expenditure policies and alternative deficit financing strategies * the trade-offs between macro- and microeconomic objectives The list of contributors includes Max Corden, John Makin, Ronald McKinnon and Richard Musgrave.

Download or read book Three Essays in Local Public Finance written by Ross Teichert Milton and published by . This book was released on 2017 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies local government taxation. I study whether changes in local tax levels impact alternative sources of revenue, how tax changes to fund school facilities affect property values, and how tax limits should be set to maximize the welfare of voters. In the first essay, I study private donations to public school districts, which while primarily publicly funded government entities, most districts receive. I estimate how local school taxes crowd out private, voluntary contributions to public education. To do this, I exploit quasi-experimental variation in tax revenue stemming from local elections. I collect data from a large set of referenda in which local taxes face voter approval in four Midwestern states, combined with administrative records of the sources of school district revenues. Using a regression discontinuity design around voting thresholds that determine passage of local referenda, I show that private contributions to public school systems are not crowded out by local taxes. The second essay uses variation in school facilities from local elections to approve capital investment to study whether improved school facilities change the property values of homes in Ohio. These elections allow me to use a regression discontinuity design around the voting threshold that allows school boards to issue bonds. I find no evidence that that is the case in Ohio, in contrast to other researcher's work in California. The third essay, which is joint work with Stephen Coate, studies the optimal design of fiscal limits, a common feature in local public finance, in the context of a simple political economy model. The model features a single politician and a representative voter. The politician is responsible for choosing the level of taxation for the voter but is biased in favor of higher taxes. The voter sets a tax limit before his/her preferred level of taxation is fully known. The novel feature of the model is that the limit can be overridden, with the voter's approval. The paper solves for the optimal limit and explores how it depends upon the degree of politician bias and the nature of the uncertainty concerning the voter's preferred level of taxation. ...