Is It Is or Is It Ain't My Obligation? Regional Debt in a Fiscal Federation
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This paper studies the repayment of regional debt in a multi-region economy with a central authority: who pays the obligation issued by a region? With commitment, a central government will use its taxation power to smooth distortionary taxes across regions. Absent commitment, the central government
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美国国家经济研究局创建时间：
2005-10-01
