What drives vertical fiscal interactions? Evidence from the 1980 Crude Oil Windfall Act
In economies with multi-level governments, why would a change in the scal rule of a gov-ernment in one level lead to a scal response by a government in a di¤erent level? Previous explanations focus on the standard common-pool problem. In this paper we study a new potential channel: compleme...
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University of Oxford
2016
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