Front Cover -- Governmental Financial Resilience: International Perspectives on How Local Governments Face Austerity -- Copyright Page -- Contents -- List of Contributo rs -- Chapter 1 Introduction: Governments and Crises -- Studying crises and austerity in the public sector -- An alternative...

This volume provides a unique insight into the ways local governments have maintained financial resilience in the face of the significant challenges posed by the era of austerity. Taking an international perspective, it provides an enlightening and practical analysis of the different capacities...

What would happen if the City of Chicago, the Chicago Public Schools, and Cook County all became insolvent at the same time? How should policy-makers and courts respond? This Article argues that the pension and budget crises that have left so many local governments deeply in debt have generated...

Despite the existence of strict budgetary frameworks and fiscal equalisation systems, municipal budget crisis has been a phenomenon in Germany for decades. As an institutional response, most German states implemented bailouts to restore local public finances. This chapter gives a brief...

Fiscal consolidation in Greek and German local governments differs for many reasons. While some German local governments experienced a long period of austerity, driven by economic decline and federal and state measures, the global financial crisis and "troika" programme caused the need for harsh...

Fiscal distress of local governments and municipalities is a non-negligible component of the public finance turmoil after the Great Recession. In this paper we consider a dataset of Italian municipalities over the period 2000-2012 and look for the main budget determinants of local default....