Environment, public debt, and epidemics

Fiscal decentralization and public debt

Excessive borrowing by subnational governments due to soft budget constraints and intergovernmental coordination failures might be one of the perils of decentralization. Despite a large body of case studies, empirical investigations on whether decentralization increases consolidated public debt levels are still scarce. This paper contributes to the literature by exploring econometrically for se...

Public Debt and Pension Policy

Indicators of the sustainability of fiscal policies play an important role in the conduct of the international surveillance of fiscal policies. The construction of these indicators, however, is beset with serious problems. To illustrate, many authors have observed that conventional measures of public debt are potentially misleading indicators of public wealth and the effects of fiscal policy on...

Sustainability of Public Debt

Guidelines for Public Debt Management

IV. Discussion of the Guidelines .............................................................................................10 1. Debt Management Objectives and Coordination...................................................10 2. Transparency and Accountability ..........................................................................14 3. Institutional Framework.................................

The Corporate Choice between Public Debt, Bank Loans, Traditional Private Debt Placements, and 144A Debt Issues

The main purpose of this study is to examine the determinants of the corporate choice between different forms of debt financing. By analyzing the most comprehensive sample of U.S. corporate debt issues to date, I find that firms that issue 144A debt have significantly lower credit quality and higher information asymmetry than firms that issue traditional non-bank private debt. Further, the stud...