Similar Search Results

Silva, Mônica Mora de Araujo de Couto e - 2016

A new state debt cycle occurred mainly through external and contracted credit operations with federal banks from 2008, after a long period with few loans and debt stock fall. It is argued that exogenous macroeconomic factors were essential in the downward trend of the debt in the early 2000s,...

Persistent link: https://www.econbiz.de/10011446424

Limites ao endividamento e sustentabilidade fiscal : o caso dos governos estaduais

Pessoa, Mônica Mora y Araujo de Couto e Silva; Santos, … - 2016

Persistent link: https://www.econbiz.de/10011540845

Vertical debt spillovers in EMU countries

Van Hecke, Annelore - In: Journal of International Money and Finance 37 (2013) C, pp. 468-492

This article examines the extent to which subnational governments may drive sovereign risk premiums. Is subnational fiscal policy affecting the interest rates on central government bonds? Furthermore, we focus on a number of causal mechanisms that may mitigate or reinforce these upstream...

Persistent link: https://www.econbiz.de/10010709329

Restricted Bailouts and the Commitment Problem in Federations

Kaiser, Karolina - 2008

Standard models of soft budget constraints consider bailouts as pure monetary transfers. However, in practice often additional obligations or restrictions, such as savings goals, are linked to monetary bailouts. This paper analyzes in a model of a federation if such restrictions change economic...

Persistent link: https://www.econbiz.de/10010294688

Debt Rule Federalism : The Case of Germany

Ciaglia, Sarah - 2012

federation. Due to bailout-guarantees enshrined in German federalism, German states do not have incentives to impress bond …

Persistent link: https://www.econbiz.de/10013099527

Our Federalism Is Not Europe’s : It's Becoming Argentina’s

Greve, Michael - 2012

American “we-do-federalism-right” triumphalism. In the United States, as in Europe, subordinate governments are beset by … governments. That commitment was once the glory of American federalism. Over the past decade, however, the no-bailout commitment … has effectively collapsed. Its demise entails fundamental changes in American federalism, none of them encouraging. After …

Persistent link: https://www.econbiz.de/10014164095

Restricted Bailouts and the Commitment Problem in Federations

Kaiser, Karolina - Wirtschafts- und Sozialwissenschaftliche Fakultät, … - 2008

Persistent link: https://www.econbiz.de/10005163035

The Challenge of Fiscal Adjustment in a Democracy : The Case of India

Hausmann, Ricardo - 2006

India`s fiscal problem has deep roots in its federal fiscal system, where multiple players find it difficult to coordinate adjustment. The size and closed nature of the Indian economy, aided by its deep domestic capital market and large captive pool of domestic savings, has disguised the cost of...

Persistent link: https://www.econbiz.de/10012783125

Political Competition and Fiscal Status : Evidence from Municipalities in Israel

Reingewertz, Yaniv - 2010

This paper analyzes the link between fiscal balance and political competition. Two conflicting hypotheses are formulated and tested in the literature, with no consensus as to which is correct. The first hypothesis states that political competition increases the accountability of politicians and...

Persistent link: https://www.econbiz.de/10013139384

Government risk premiums in the bond market: EMU and Canada

Schuknecht, Ludger; von Hagen, Jürgen; Wolswijk, Guido - 2008

This paper focuses on risk premiums paid by central governments in Europe and sub-national governments in Germany, Spain, and Canada. With regard to the European governments, we are interested in how these premiums were affected by the introduction of the euro. Using data for bond yield spreads...

Persistent link: https://www.econbiz.de/10011604925

1
2
3
4
5
6
7
8
9
10
Next
Last