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,...

This article explores the effects of credit enhancement, and downgrades to credit enhancement providers, on the costs to municipal issuers for holding variable rate debt during the 2008—09 market crisis. Although municipal issuers were potentially subject to pressure on their debt issues...