Public Finance

  1. Fiscal Federalism and Intergovernmental Relations
    1. Theory of Fiscal Federalism
      1. The Decentralization Theorem
        1. Advantages of Decentralization
          1. Preference Matching
            1. Innovation and Experimentation
              1. Competition Among Jurisdictions
                1. Accountability
                2. Disadvantages of Decentralization
                  1. Fiscal Disparities
                    1. Spillover Effects
                      1. Coordination Problems
                        1. Scale Economies
                      2. Assignment of Functions
                        1. Allocation Function Assignment
                          1. Local Public Goods
                            1. National Public Goods
                              1. Spillover Effects
                              2. Distribution Function Assignment
                                1. Mobility and Redistribution
                                  1. Race to the Bottom
                                  2. Stabilization Function Assignment
                                    1. Monetary vs. Fiscal Policy
                                      1. Regional Stabilization
                                    2. Tax Assignment
                                      1. Principles of Tax Assignment
                                        1. Tax Base Mobility
                                          1. Administrative Efficiency
                                            1. Fiscal Adequacy
                                            2. Specific Tax Assignments
                                              1. Income Taxes
                                                1. Sales and Excise Taxes
                                                  1. Property Taxes
                                                    1. Natural Resource Taxes
                                                    2. Tax Competition
                                                      1. Beneficial vs. Harmful Competition
                                                        1. Race to the Bottom
                                                          1. Tax Exporting
                                                        2. Intergovernmental Grants
                                                          1. Rationale for Grants
                                                            1. Correcting Fiscal Imbalances
                                                              1. Internalizing Spillovers
                                                                1. Promoting National Objectives
                                                                  1. Redistribution
                                                                  2. Types of Grants
                                                                    1. Categorical vs. Block Grants
                                                                      1. Matching vs. Non-matching Grants
                                                                        1. Open-ended vs. Closed-ended Grants
                                                                        2. Economic Effects of Grants
                                                                          1. Income vs. Price Effects
                                                                            1. The Flypaper Effect
                                                                              1. Supplanting and Additionality
                                                                              2. Grant Design Issues
                                                                                1. Conditionality
                                                                                  1. Performance-Based Grants
                                                                                    1. Equalization Transfers

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                                                                                6. Fiscal Policy and Macroeconomic Stabilization

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                                                                                8. Social Insurance and Income Security