β Scribed by Raquel Fernandez; Richard Rogerson
No coin nor oath required. For personal study only.
We use a dynamic Tiebout model to analyze the consequences of moving from a pure local system of education finance to a pure state system of finance in which each student receives the same resources. While much of the education finance literature focuses on the static or immediate effects of such a change, our analysis also examines the dynamic effects. Numerical simulations for a calibrated version of our model indicate that these dynamic effects are very important. Comparing steady states, we find that aggregate welfare increases on the order of 10 percent following the switch to a state system. The key to this welfare gain is that a local system yields inefficiently low investment in human capital of children from low-income families.
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Problems of B centralized department. in a KISDORFEB, C. Mental health in later life. I n S. E. Golann and C. Eisdorfer (Eds.), Handbook of JOINT COMMIMION ON MENTAL ILLNESS AND HEALTH. Adion for mental healfh. New York: Basic WARREN, V. L. In the beginning . . . a little grey schoolhouse. The Old C
**Swiss Federalism from a Comparative Perspective β Dealing with Reform Obstacles** In the first part of this introductory contribution, the authors present the content of this special edition as well as the individual articles and their main findings. The contributions are organized along three ma
## Abstract Prior investigations treated subsidiary autonomy more or less as a static concept, but the headquartersβsubsidiary relationship is likely to evolve and result in changing power positions over time. This article examines the static and dynamic impacts of external/internal embeddedness on