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This paper provides evidence that most German states (Laender) have unsustainable public finances by exploiting a newly compiled database covering the years 1950‐2011. Although the Laender are closely intertwined we are the first to apply “second generation” panel techniques that control...
Persistent link: https://www.econbiz.de/10011404634
-national public finance data of the German Laender between 1950 and 2015 and find that their fiscal policy only partly meets fiscal …
Persistent link: https://www.econbiz.de/10011811360
With an outstandingly long data set of Swiss cantonal public finances we study whether the Swiss subnational level runs sustainable fiscal policies. Going back to the year 1905, we test for stationarity of cantonal public debt, revenue and spending and for cointegration between cantonal revenues...
Persistent link: https://www.econbiz.de/10014416154