This paper analyses the impact of fiscal rules on different public spending categories, namely public expenditure and investment, at the subnational level in Europe. Building on the notion of the deficit bias, we suspect that in the presence of fiscal rules, politicians have an incentive to...

Represents a pioneering attempt to comprehensively explore and assess financial sustainability in Australian local government. While the emphasis falls squarely on Australian local government, Funding the Future draws on extensively on both the international conceptual and empirical literature