| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16137 |
| DP16137 The Dynamic Response of Municipal Budgets to Revenue Shocks | |
| Ines Helm; Jan Stuhler | |
| 发表日期 | 2021-05-10 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We study the fiscal and tax response to intergovernmental grants, exploiting quasi-experimental variation within Germany’s fiscal equalization scheme triggered by Census revisions of official population counts. Municipal budgets do not adjust instantly. Instead, spending and investments adapt within five years to revenue gains, while adjustment to revenue losses is more rapid. Yet, the long-run response is symmetric. The tax response is particularly slow, stretching over more than a decade. Well-known empirical “anomalies” in public finance such as the flypaper effect are thus primarily a short-run phenomenon, while long-run fiscal behavior appears more consistent with standard theories of fiscal federalism. |
| 主题 | Public Economics |
| 关键词 | Intergovernmental grants Fiscal transfers Government spending Local taxation Census shock Flypaper effect |
| URL | https://cepr.org/publications/dp16137 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545111 |
| 推荐引用方式 GB/T 7714 | Ines Helm,Jan Stuhler. DP16137 The Dynamic Response of Municipal Budgets to Revenue Shocks. 2021. |
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