Vertical Fiscal Imbalance As A Particular Type of Fiscal Asymmetry
Though there are multiple usages of the term in the fiscal federalism literature, yet, strictly speaking, it shall only be used to denote a particular type of revenue-expenditure asymmetry. This can be understood as follows:
Any existing revenue-expenditure asymmetry between the two levels of a government should simply be called, what it is, that is, a Vertical Fiscal Asymmetry (VFA). The precise nature of this asymmetry, in a particular country, is a matter of research.
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