I study the link between the choice of rule-based contracts and political competition through the municipal bond market. I provide evidence that when the probability of losing office is high, mayors are more likely to issue revenue bonds over general obligation bonds and to choose competitive...

Municipal (muni) bonds are an important source of funding for state and local governments. During the Covid-19 pandemic, muni debt markets became severely distressed. In response, the Federal Reserve established the Municipal Liquidity Facility (MLF). Meanwhile, Congress enacted extensive fiscal...

The crisis phenomena in the global and Russian economy directly related to the introduction of quarantine measures in 2020, led to the deficit of the consolidated regional budget. At end-2020, the consolidated regional budget and the budgets of territorial state extra-budgetary funds ran a...

Municipal bond markets experienced a significant amount of strain in response to the COVID-19 crisis, creating liquidity and credit concerns among market participants. During the economic shutdown resulting from the pandemic, income tax revenues were deferred and sales tax revenues decreased...

This research paper presents and discusses the main results generated and obtained with the proprietary computer platform CIDIUS®, developed by the authors of this work, which aims to support the decision-making process of Portuguese mayors. Thus, keeping in mind the theoretical models and...

This paper explores which variables are more significant in municipal executive recommendation by citizens. We estimated the influence of public dimensions, such as municipe loyalty, municipe satisfaction, and municipe perceived value in municipal executive recommendation by citizens. Then, we...