The theory of fiscal federalism suggests that debt of subcentral levels of government is closely related to the … investigate the determinants of local government units' (LGUs) debt in the Federation of Bosnia and Herzegovina (FBiH). Based on …, institutional, economic, and demographic variables. The results indicate that the debt of LGUs in FBiH is significantly determined …

This paper surveys the literature on sovereign debt from the perspective of understanding how sovereign debt differs … from privately issue debt, and why sovereign debt is deemed safe in some countries but risky in others. The answers relate … to the unique power of the sovereign. One the one hand, a sovereign has the power to tax, making debt relatively safe; on …

This paper surveys the literature on sovereign debt from the perspective of understanding how sovereign debt differs … from privately issue debt, and why sovereign debt is deemed safe in some countries but risky in others. The answers relate … to the unique power of the sovereign. One the one hand, a sovereign has the power to tax, making debt relatively safe; on …

We assess the quantitative relevance of expectations-driven sovereign debt crises, focusing on the Southern European … countries. We find that expectations-driven debt crises are quantitatively relevant but state dependent, as they only occur …