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‘Market Discipline’, Lending Ceilings and Subnational Finance (2005)

Londero, Elio

Oxford, UK : Blackwell Publishing Ltd

Kyklos 58 (2005), S. 0

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ISSN: 1467-6435

Source: Blackwell Publishing Journal Backfiles 1879-2005

Topics: Sociology , Economics

Notes: The ‘market discipline’ approach to subnational finance requires that moral hazard derived from the possibility of a central government bailout be made insignificantly small. Therefore, governments interested in following this approach and willing to abide by its rules should start by creating the conditions for a default and its resolution to be possible. This article discusses the use of lending ceilings as an instrument to allow the default, without dragging in the central government.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1111/j.0023-5962.2005.00303.x

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Effective protection in the presence of joint production (2001)

Londero, Elio

[S.l.] : Emerald

Journal of economic studies 28 (2001), S. 34-42

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ISSN: 0144-3585

Source: Emerald Fulltext Archive Database 1994-2005

Topics: Economics

Notes: This paper analyzes the measurement of effective protective rates when there is joint production. It shows that special attention is required when tradables are jointly produced with non-tradables, and especially when there are significant changes in the prices of non-tradables. Input-output formulas for the Balassa and Corden methods are provided.