Precommitment in a system of hierarchical governments

Article Abstract:

State governments can tailor their budget determination policies, thereby influencing local governments' economic policies, by using the technique of precommitment. Precommitment can enhance social welfare and alter government policies as exemplified by the intrajurisdictional externalities of tax competition, benefit spillovers and migration-induced fiscal externalities. The use of precommitment becomes advantageous when state or local governments are unable to configure grant or tax policies as needed.

Public Finance Activities, Public Finance-Local, Public Finance-State, Local government, Local finance, State finance

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The effect of the bank regulatory environment on state economic activity

Article Abstract:

Statewide branching and interstate banking enhance the economic performance of a state. A bank regulatory system that creates an open competitive banking environment significantly improves that state's economy. Using a panel data set that covers the time interval from 1970 to 1988, the economic activity, evidenced by real per capita gross state product, real per capita income, and the employment/population ratio is higher in states that utilize an appropriate banking regulatory policy.

DEPOSITORY INSTITUTIONS, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation-State, Banking industry, Laws, regulations and rules, Econometrics, Banking law

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Market power of large cities and policy differences in metropolitan areas

Article Abstract:

A large city which has a major share of the metropolis population influences housing prices in smaller cities or suburbs. This market power of large cities, or central cities, sets variations in state policy and property valuation between. These differences occur even if dwellers and amenities between central and smaller cities are the same. Control of the central city government conditions property tax rates.

Valuation, Real property, Suburbs, Real estate appraisal, Inner cities

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