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The central question of this book is whether the assignment of government functions to the individual jurisdictions in a federal state can ensure an optimal allocation of resources and a fair income distribution. The analysis thereby gives a new answer to the old question about the optimal degree of fiscal decentralization in a federal state. It shows that fiscal decentralization is a method to disclose the preferences of currently living and future generations for local public goods, to limit the size of the government, and to avoid excessive public debt finance. While the allocative branch of the government benefits from fiscal decentralization, it is difficult to obtain a distribution of incomes that differs from the outcome that the market brings along.

Intergovernmental fiscal relations --- Finance, Public --- Decentralization in government --- Federal government --- Decentralization in government. --- Intergovernmental fiscal relations. --- Public Finance --- Political Science --- Law, Politics & Government --- 336.1/.5 --- 342.25 --- 212 Federalisme --- 430.1 Openbare Financien --- 336 --- Federal-state fiscal relations --- Fiscal relations, Intergovernmental --- State-local fiscal relations --- Local finance --- Cameralistics --- Public finance --- Currency question --- Division of powers --- Federal-provincial relations --- Federal-state relations --- Federal systems --- Federalism --- Political science --- Central-local government relations --- State governments --- Centralization in government --- Devolution in government --- Government centralization --- Government decentralization --- Government devolution --- Local government --- Public administration --- Openbare financien. Overheidsfinancien. Overheidseconomie. Openbare geldmiddelen. Staatsfinancieen --- Centralisatie. Decentralisatie --- Law and legislation --- Business, Economy and Management --- Economics --- 342.25 Centralisatie. Decentralisatie --- 336.1/.5 Openbare financien. Overheidsfinancien. Overheidseconomie. Openbare geldmiddelen. Staatsfinancieen --- Finance, Public. --- Federal government. --- Powers, Division of --- Provincial-federal relations --- State-federal relations --- Public finances