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transfers between the central and local governments in an efficient way. For instance, some criticise that a large number of …
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transfers between the central and local governments in an efficient way. For instance, some criticise that a large number of …
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A substantial fraction of local governments refinance their long-term debt with significant delays - resulting in sizable losses. Using data from 2001 to 2018, we estimate that U.S. municipals lost over $31 billion from this delayed refinancing, whereas the entire U.S. corporate sector, facing...
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