Determinants of fiscal distress in Italian municipalities

Wildmer Daniel Gregori, Luigi Marattin

Fiscal distress of local governments and municipalities is a non-negligible component of the public finance turmoil after the Great Recession. In this paper we consider a dataset of Italian municipalities over the period 2000-2012 and look for the main budget determinants of local default. According to our results the default probability is positively affected by the share of loan repayment over total spending. This result is robust to alternative model specifications as well as inclusion of fixed effects, time dummies and macroeconomic control variables.

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Year of publication:	September 2015
Authors:	Gregori, Wildmer Daniel ; Marattin, Luigi
Publisher:	Bologna, Italy : Alma Mater Studiorum - Università di Bologna, Department of Economics
Subject:	local government default \| fiscal distress \| panel regressions \| Italien \| Italy \| Öffentliche Schulden \| Public debt \| Gemeindefinanzen \| Local government finance \| Panel \| Panel study \| Regressionsanalyse \| Regression analysis \| Insolvenz \| Insolvency \| Kommunalverwaltung \| Local government \| Kommunalverschuldung \| Municipal debt \| Finanzkrise \| Financial crisis \| Finanzpolitik \| Fiscal policy \| Gemeindesteuer \| Local tax

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Extent:	1 Online-Ressource (circa 17 Seiten)
Series:	Quaderni - working paper DSE / Alma Mater Studiorum - Università di Bologna, Department of Economics. - Bologna : [Verlag nicht ermittelbar], ISSN 2282-6483, ZDB-ID 2125055-8. - Vol. no 1024
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	10.6092/unibo/amsacta/4337 [DOI] hdl:10419/159862 [Handle]
Classification:	H72 - State and Local Budget and Expenditures ; H74 - State and Local Borrowing
Source:	ECONIS - Online Catalogue of the ZBW

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