This paper uses a simple model of fiscal competition between local jurisdictions to analyse the impact of intergovernmental grants on the composition of public spending. We find that a higher degree of…
Contributions to Edited Volumes and Conference Proceedings
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2007
The paper examines the applicability of GDP-linked bonds for the financing of develop-ing countries. These bonds are characterised by tying the coupon and/or redemption payments to the GDP of the issuing…
