Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/105143
Authors: 
Burret, Heiko T.
Feld, Lars P.
Year of Publication: 
2014
Series/Report no.: 
CESifo Working Paper 5043
Abstract: 
Formal fiscal rules have been introduced in many countries throughout the world. While most studies focus on intra]jurisdictional effects of fiscal rules, vertical impacts on the finances of other levels of governments have yet to be explored thoroughly. The paper investigates the influence of Swiss cantonal debt brakes on municipal finances during the years 1980]2011 by examining cantonal aggregated and disaggregated local data. A Difference]in]Differences estimation (two-way fixed effects) provides little evidence that budget constraints at the cantonal level affect municipal finances and fiscal decentralization, respectively.
Subjects: 
fiscal rules
vertical effects
fiscal shocks
decentralization
sub-national finances
JEL: 
H60
H77
H74
H72
Document Type: 
Working Paper

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