Market-Based Fiscal Discipline in Monetary Unions : Evidence From the U.S. Municipal Bond Market /
The concept of market-based fiscal discipline posits that a government which runs persistent, excessive fiscal deficits will face an increased cost of borrowing and eventually, a reduced availability of credit, and that these market actions will provide an incentive to correct irresponsible fiscal b...
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| Format: | Tidsskrift |
| Sprog: | English |
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Washington, D.C. :
International Monetary Fund,
1991.
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| Serier: | IMF Working Papers; Working Paper ;
No. 1991/089 |
| Online adgang: | Full text available on IMF |