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Baskaran, Thushyanthan - 2014

, and reduce deficits after they receive a bailout from the state government. The state government appears to be both able … and willing to enforce austerity after granting a bailout. …

Persistent link: https://www.econbiz.de/10010378900

Local fiscal policy after a bailout : austerity or soft budget constraints?

Baskaran, Thushyanthan - In: Economics of governance 18 (2017) 3, pp. 209-238

Persistent link: https://www.econbiz.de/10011890232

Decentralization and Fiscal Discipline in Subnational Governments : The Bailout Problem in Uruguay

Filgueira, Fernando - 2011

to vertical fiscal imbalances and economic conditions in the SN jurisdictions. Yet, the analysis of recent bailout …

Persistent link: https://www.econbiz.de/10013126767

Sub-national credit risk and sovereign bailouts : who pays the premium?

Jenkner, Eva; Lu, Zhongjin - 2014

Persistent link: https://www.econbiz.de/10010389567

Moral hazard and bail-out in fiscal federations : evidence for the German Länder 7 Kirsten H. Heppke-Falk; Guntram B. Wolff

Heppke-Falk, Kirsten H. (contributor); … - 2007

(Länder) to a bail-out, the interest payments-to-revenue ratio. While risk premia measured in the German sub-national bond … receiving a bail-out payment. Quantitatively, the effects are, however, quite small. Our findings are robust to a variety of … markets’ bail-out expectations. In sum, our results indicate significant investor moral hazard in the sub-national German bond …

Persistent link: https://www.econbiz.de/10003453453

Moral hazard and bail-out in fiscal federations : evidence for the German Länder

Heppke-Falk, Kirsten; Wolff, Guntram B. - In: Kyklos : international review for social sciences 61 (2008) 3, pp. 425-446

Persistent link: https://www.econbiz.de/10003738896

Who sent you? : strategic voting, transfers and bailouts in a federation

Daniele, Gianmarco; Piolatto, Amedeo; Sas, Willem - 2018 - Version: September 2018

Persistent link: https://www.econbiz.de/10011920817

Sub-national optimal budget allocation and borrowing under soft budget constraint

Crivelli, Ernesto (contributor) - 2006

Local governments have borrowed largely from the banking system to finance their deficits instead of responding to the rigors of bond markets. This paper analizes how sub-national governments optimally reallocate the provision of public goods and decide on borrowing, in a model where the banking...

Persistent link: https://www.econbiz.de/10003421170

Fiscal Equalisation and the Soft Budget Constraint

Plachta, Robert - 2008

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...

Persistent link: https://www.econbiz.de/10012722478

Sub-nationals' risk premia in fiscal federations : fiscal performance and institutional design

Sola, Sergio; Palomba, Geremia - In: Journal of international money and finance 63 (2016), pp. 165-187

Persistent link: https://www.econbiz.de/10011668350