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Autoren: 
Rösel, Felix
Datum: 
2016
Reihe/Nr.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2016: Demographischer Wandel - Session: The Social Aspects of Fiscal Policy D10-V2
Zusammenfassung: 
This paper shows that geographic patterns in public debt can be highly persistent despite drastic external shocks. I compare pre-Nazi debt in 60 districts and 132 large cities of the German Reich with current local government debt. German local government debt completely defaulted after WWII. I find that 1932 and 2012 debt is highly correlated in cities which saw a re-installation of their pre-Nazi mayor by the Allies in 1945. Comparable cities without personnel continuity do not exhibit a robust correlation. Intertemporal personnel links thus constitute a main channel through which to explain long-term persistency in public finance.
JEL: 
H63
H74
N94
Dokumentart: 
Conference Paper

Datei(en):
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