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- W1749320880 abstract "This paper studies with disaggregated budget data how expenditures, revenues, and borrowing evolve in municipalities that receive bailouts. It asks whether higher-level governments enforce austerity measures after bailing out indebted municipalities. The sample consists of 421 municipalities in the German federal state of Hesse over the 1997-2010 period. The results indicate that municipalities cut personnel, construction, and social expenditures, increase tax revenues and property tax rates, and reduce deficits after they receive a bailout from the state government. The state government appears to be both able and willing to enforce austerity after granting a bailout." @default.
- W1749320880 created "2016-06-24" @default.
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- W1749320880 date "2014-01-01" @default.
- W1749320880 modified "2023-10-16" @default.
- W1749320880 title "Bailouts and Austerity" @default.
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- W1749320880 doi "https://doi.org/10.2139/ssrn.2470081" @default.
- W1749320880 hasPublicationYear "2014" @default.
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