Series: IMF Working Papers
Author(s): Morris Goldstein , and Geoffrey Woglom
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 1991
Keywords: bonds, bond, fiscal policy, fiscal discipline, municipal bond, Market-Based Fiscal Discipline in Monetary Unions:,
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...