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Fiscal discipline is a concern because of possible spending and deficit bias in fiscal and political institutions. This study investigates adjustments under fiscal federalism, concentrating on decentralized government in Denmark and allowing for a comparison with neighbors Norway and Sweden and...
Age-related adjustments to Social Security benefits are intended to be actuarially equivalent, on average, rendering lifetime benefits invariant to the timing of first receipt. This article analyzes actuarial equivalence with respect to early and delayed Social Security benefit claims using a...
Over the past decade, most states have introduced lotteries, and many now license casinos. To what extent does the presence of licensed casinos cannibalize revenues from state-sponsored lotteries? To what extent does pari-mutuel betting cannibalize revenues from state-sponsored lotteries? Based...
The demand for public school quality is estimated. Unlike previous studies, the price of a unit of public school quality in the demand estimation is measured by both the tax price and the implicit price calculated from a house price hedonic. Identification, endogeneity, and Tiebout bias are...
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