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Title:Asymmetric and non-linear adjustments in local fiscal policy PDF Logo
Authors:Legrenzi, Gabriella Deborah
Issue Date:2009
Series/Report no.:CESifo working paper 2550
Abstract:We analyse the revenue-expenditure patterns of local governments, allowing for asymmetric and non-linear adjustments of local spending and taxation to disequilibrium errors. Our results provide evidence of a downward inflexibility of both local government spending and local taxation, pointing to a budget-maximising local government.
Subjects:Fiscal federalism
fly-paper effect
non-linear time-series
asymmetric adjustment
JEL:H10
H71
C22
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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