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German municipalities are expected to suffer from (often significant) population losses in the upcoming decades. We assess these local governments' vulnerability to the fiscal consequences of this demographic decline through two means (using a sample of 1021 municipalities in the state of...
Persistent link: https://www.econbiz.de/10014049275
that monetary union leads to more fiscal discipline for high debt countries that used to have a benign neglect stance on … the exchange rate. Contrasting to that, low debt countries that used to pay much attention to the exchange rate in the …
Persistent link: https://www.econbiz.de/10011441669
impact of interest rates on deficits is a crucial element of the market discipline hypothesis it has widely been neglected in … adapted. It turns out that borrowing costs, measured as the interest-growth-differential, and the level of public debt should …
Persistent link: https://www.econbiz.de/10011445942
impact of interest rates on deficits is a crucial element of the market discipline hypothesis it has widely been neglected in … adapted. It turns out that borrowing costs, measured as the interest-growth-differential, and the level of public debt should …
Persistent link: https://www.econbiz.de/10010297752
Persistent link: https://www.econbiz.de/10000413307
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There are at least two reasons why sustainability of public debt is an issue of increasing importance. First, public … assessing the sustainability of public debt and applies them to the EC countries. …
Persistent link: https://www.econbiz.de/10011547191