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Political Will and Fiscal Federalism in Municipal Bankruptcy

Gillette, Clayton P. - 2011

Municipalities in fiscal distress may seek to adjust debts under Chapter 9 of the Bankruptcy Code either because they are truly destitute or because they lack the political will to adopt affordable tax increases. Local officials of municipalities that enter bankruptcy proceedings nevertheless...

Persistent link: https://www.econbiz.de/10013128065

Junk Cities : Resolving Insolvency Crises in Overlapping Municipalities

Chaudhury, Aurelia - 2018

the same territory. These crises will be worse than prior local insolvency crises, as conflicts among overlapping … insolvency crises and how courts and legislatures would respond. This Article explains how collective action problems among … overlapping local governments will make addressing simultaneous insolvency crises difficult, as jurisdictions will hold out …

Persistent link: https://www.econbiz.de/10012922009

What is a Lien? Lessons from Municipal Bankruptcy

Skeel, David A. - 2015

From the outset of Detroit's bankruptcy, an unlikely set of issues kept coming up: What exactly is a lien? Who has a property interest or its equivalent in bankruptcy? Did general obligation bondholders have special status, due to Detroit's promise to use its “full faith and credit” for...

Persistent link: https://www.econbiz.de/10013032859

Frameworks for central-local government relations and fiscal sustainability

Morgan, Peter J.; Trinh, Long Q. - 2016

Sustainable and inclusive growth in emerging Asian economies requires continued high levels of public sector investment in areas such as infrastructure, education, health, and social services. These responsibilities, especially with regard to infrastructure investment, need to be devolved...

Persistent link: https://www.econbiz.de/10011561683

Fiscal decentralization and local budget deficits in Viet Nam : an empirical analysis

Morgan, Peter J.; Trinh, Long Q. - 2016

Since 1975, Viet Nam has gradually decentralized more fiscal responsibilities to local authorities. This study has two objectives: (i) to take stock of the current institutional framework for intergovernmental fiscal relations in Viet Nam, and (ii) to empirically assess the debt sustainability...

Persistent link: https://www.econbiz.de/10011561785

Does fiscal oversight matter?

Christofzik, Désirée; Kessing, Sebastian - 2014

A gradually introduced reform of local government accounting made it temporarily likely for municipalities in the German state of North Rhine-Westphalia to avoid the effective control of their budget by the authorities in charge with overseeing local government budgets and enforcing the existing...

Persistent link: https://www.econbiz.de/10010418100

The Fiscal Performance of Overlapping Local Governments

Jimenez, Benedict S. - 2016

Research on the fiscal consequences of multi-level governance has largely focused on the interaction between federal and state governments. Yet, the federal system in the United States is considerably more complex, and includes the vertical layering of governments at the local level. This...

Persistent link: https://www.econbiz.de/10013006561

Fiscal rules and public spending : evidence from Italian municipalities

Gregori, Wildmer Daniel - 2014

The aim of this paper is to investigate the extent to which local budget spending composition reacts to fiscal rules variations. I consider the budget of Italian municipalities and exploit specific changes in the Domestic Stability Pact's rules, to perform a difference-in-discontinuities...

Persistent link: https://www.econbiz.de/10011729173

Does fiscal oversight matter?

Christofzik, Désirée I.; Kessing, Sebastian - 2018

A gradually introduced reform of local government accounting made it temporarily possible for municipalities in the German state of North Rhine-Westphalia to avoid the effective control of their budget by the authorities in charge of overseeing local government budgets and enforcing the existing...

Persistent link: https://www.econbiz.de/10011788531

Does fiscal oversight matter?

Christofzik, Désirée I.; Kessing, Sebastian - 2018

Persistent link: https://www.econbiz.de/10011795895