Although the development of punctuated equilibrium theory (PET) makes broad reference to the bureaucratic procedures that regulate budgetary decision-making and makes reasonable assumptions about the influence that those procedures have on the dynamic of resource allocation, little is known...

Subnational capital finance -- A theory of subnational government capital market information -- Review of literature on subnational government borrowing -- System-level information resolution and contractibility -- Information resolution, information content, and city debt -- Understanding,...