This paper assesses the interactions of horizontal fiscal equalisation schemes with debt policy by sovereign regional governments. Local public goods are either financed by debt or taxation. A horizontal equalisation scheme elevates regional public revenue disparities under horizontal and...

This paper assesses the interactions of horizontal fiscal equalisation schemes with debt policy by sovereign regional governments. Local public goods are either financed by debt or taxation. A horizontal equalisation scheme eleviates regional public revenue disparities under horizontal and...

This paper assesses the interactions of horizontal fiscal equalisation schemes with debt policy by sovereign regional governments. Local public goods are either financed by debt or taxation. A horizontal equalisation scheme eleviates regional public revenue disparities under horizontal and...

This paper analyses the shortcomings of the current budget rules for the Bundeslauml;nder, especially the definition of public investment that is used as a deficit ceiling in Germany. Two alternative budget rules are analysed, the Swiss debt brake as well as a version incorporating a golden rule...