have a negative effect on public deficits, which is stronger the better the analyzed budget position corresponds with the …, cantonal fiscal rules tend to mitigate political budget cycles and shock-related deficits. …

improved the budget balance by about 3.6 percentage points on average in a post-intervention period covering five years. …

federalism in which centralization is less likely to occur where budget referendums are possible. The reason for this result is … that budget referendums reduce the extent to which pro-centralization regions can commit to a low level of spending …

federalism in which centralization is less likely to occur where budget referendums are possible. The reason for this result is … that budget referendums reduce the extent to which pro-centralization regions can commit to a low level of spending …