Gröpl, Christoph; Heinemann, Friedrich; Kalb, Alexander - In: Perspektiven der Wirtschaftspolitik 11 (2010) 2, pp. 178-203
The volume of short-term liquidity credit ("Kassenkredit") of the German municipalities has increased rapidly in the last two decades. This development suggests that this debt instrument has been diverted from its original purpose, namely as an instrument of bridging short-run liquidity...