ادغام در فدرالیسم مالی فدرالیسم مالی و اثرات جانبی بین اداری: نتایج جدید و یک برنامه برای آلودگی هوایی ایالات متحده

Using a detailed simulation model of the US electricity sector, we then empirically explore these tradeoffs for US air pollution. We find that US states acting in their own interest lose about 31.5% of the potential first-best benefits, whereas the second-best uniform policy loses only 0.2% of benefits. The centralized policy outperforms the state policy for two reasons. First, inter-state spillovers are simply more important that inter-state heterogeneity in this application. Second, because of the convexity of the marginal cost functions, elasticities are much lower over the range relevant to the centralized policy, dampening the distortions.