000			01548nam a22001577a 4500
999			_c522165 _d522165
008			230313b ||||| |||| 00| 0 eng d
100			_aZabler, Steffen _938918
245			_aUncovering the effect of local government debt brakes in Germany using synthetic controls
260			_aLocal Government Studies
300			_a48(5), Oct, 2022: p.864-886
520			_aStrategies for limiting public debt remain a constant issue in public policy and are set to become more salient considering the current high levels of public spending in response to the COVID-19 crisis. One noteworthy strategy has been the introduction of institutional debt brakes. Although public debt at the local level does not necessarily follow the same rules and trends as debt at the national level, debt brakes at the local level are not nearly as comprehensively covered by both public and scholarly debate. The adoption of voluntary debt brakes in several German municipalities in the last decade offers intra-state variance to assess their fiscal effectiveness. A generalised synthetic control analysis is applied to mitigate for the special challenges of causal attribution and rare treatment cases. This approach provides a clear result: on average debt brakes in their present form are unable to limit debt levels in the examined municipalities. – Reproduced
650			_aLocal public finance, Debt brake, Debt limit, Local government debt, Synthetic control method. _936861
773			_aLocal Government Studies
906			_aLOCAL GOVERNMENT
942			_cAR