Konferenzbeitrag
The Persistency of Public Debt
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.
- Sprache
-
Englisch
- Erschienen in
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2016: Demographischer Wandel - Session: The Social Aspects of Fiscal Policy ; No. D10-V2
- Klassifikation
-
Wirtschaft
National Debt; Debt Management; Sovereign Debt
State and Local Borrowing
Regional and Urban History: Europe: 1913-
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Rösel, Felix
- Ereignis
-
Veröffentlichung
- (wer)
-
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
- (wo)
-
Kiel und Hamburg
- (wann)
-
2016
- Handle
- Letzte Aktualisierung
-
10.03.3232, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Konferenzbeitrag
Beteiligte
- Rösel, Felix
- ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
Entstanden
- 2016
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