Fiscal consolidation by intergovernmental transfers cuts? The unpleasant effect on expenditure arrears
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DOI: 10.1016/j.econmod.2018.09.008
Abstract: For the period 2003–2014, we investigate unexplored effects of fiscal consolidation in decentralized public finance on a large dataset of Italian municipalities. Based on a simple, realistic theoretical model, we show that municipalities increase arrears… read more here.
Keywords: intergovernmental transfers; fiscal consolidation; consolidation intergovernmental; consolidation ... See more keywords