In this paper, authors Darong Dai, Dennis W. Jansen and Liqun Liu analyze the effects of migration on the fiscal policies of local governments. Because of the possibility of migrating to another jurisdiction later in life, ...

Dr. Liu, Dr. Rettenmaier and Dr. Saving interview Kirby Distinguished Visiting Professor Dr. Joshua Rauh during his visit to Texas A&M University.

The Earned Income Tax Credit (EITC) is the federal government's largest means-tested cash assistance program. The popular anti-poverty program's maximum credits and income eligibility ranges have been legislatively increased ...

Assuming two types of regions that differ only in the discount rate, Huber and Runkel (2008) show that optimal federal redistribution is from impatient to patient regions, and optimal local public debt is higher in impatient ...

It has been established in the literature that, under the assumption of risk-neutral contestants, it is usually optimal for an effort maximizing contest organizer with a fixed prize budget to award everything to a single ...

Whereas the majority of economists interpret risk as dispersion or variation in an outcome variable, many everyday decision makers tend to associate risk with the outcome failing to meet a certain “safety� level. Here, ...

The US Government's total liabilities were $22.8 trillion in 2016. The liabilities include the familiar debt held by the public of $14.2 trillion. They also include the accrued pension and other retirement benefits payable ...

Despite the private sector’s switch to defined contribution retirement plans, traditional defined benefit pension plans remain dominant in the public sector. In this issue of PERCspectives on Policy, authors Dennis Jansen, ...

Contests by their very nature involve risk, winning and losing are both possible, and the gain from winning can itself be uncertain. The participants in a contest use resources to increase their chance of winning. The main ...