A Dynamic Model of Fiscal Decentralization and Public Debt Accumulation

This paper develops a dynamic infinite-horizon model with two layers of governments to study theoretically and quantitatively how fiscal decentralization affects local and central government debt accumulation and spending. In the model, the central government makes transfers to local governments to...

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Bibliographische Detailangaben

Hauptverfasser:	Guo, Si, Pei, Yun, Xie, Leiyu
Format:	Artikel
Sprache:	eng
Schlagworte:	FISCAL DECENTRALIZATION FISCAL IMBALANCE GOVERNMENT TRANSFERS LOCAL GOVERNMENT FINANCES PUBLIC DEBT
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