Título:
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Fiscal sustainability across government tiers: an assessment of soft budget constraints
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Autor/a:
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Claeys, Peter; Ramos Lobo, Raúl; Suriñach Caralt, Jordi
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Otros autores:
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Universitat de Barcelona |
Abstract:
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This paper analyses how fiscal adjustment comes about when both central and sub-national governments are involved in consolidation. We test sustainability of public debt with a fiscal rule for both the federal and regional government. Results for the German Länder show that lower tier governments bear a relatively smaller part of the burden of debt consolidation, if they consolidate at all. Most of the fiscal adjustment occurs via central government debt. In contrast, both the US federal and state levels contribute to consolidation of public finances. |
Materia(s):
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-Política fiscal -Deute públic -Anàlisi d'impacte econòmic -Inversions -Macroeconomia -Federalisme -Fiscal policy -Public debt -Economic impact analysis -Investments -Macroeconomics -Federalism |
Derechos:
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(c) Springer Verlag, 2008
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Tipo de documento:
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Artículo Artículo - Versión aceptada |
Editor:
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Springer Verlag
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Compartir:
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