The controversy about sovereign debt cuts loomed prominently throughout crisis in the European Union (EU), as the EU legal rules were viewed to impose strict limitations on debt restructuring involving public creditors due to moral hazard concerns enshrined in the legal ban on bailouts. This...

Die Bundesrepublik Deutschland ist für viele Entwicklungsländer ein wichtiges Gläubigerland. In der Gruppe der "Highly Indebted Poor Countries" (HIPCs), einer von Weltbank und IWF klassifizierten Gruppe von 40 hoch verschuldeten und besonders armen Ländern, gehört die deutsche...

Through an intertemporal budget constraint, jurisdictions may gain advantages in tax and spending competition by 'competing' on debt. While the existing spatial econometric literature focuses on tax and spending competition, very little is known about spatial interaction via public debt. This...