We examine how local newspaper closures affect public finance outcomes for local
governments. Following a newspaper closure, municipal borrowing costs increase by 5–11 …

“Internal controls” refer to organizational rules and procedures used to safeguard assets and
to detect fraud, waste, and abuse. This study examines the relationship between internal …

The advance refunding of debt is a widespread practice in municipal finance. In an advance
refunding, municipalities retire callable bonds early and refund them with bonds with lower …

The ability of a nation to finance its basic infrastructure is essential to its economic well-
being in the 21st century. This second edition of State and Local Financial Instruments …

State and local governments seek to save money through fiscal efficiency. One such
mechanism widely studied in the literature is through the choice for financial underwriting of …

Private placements continue to be issued in the municipal debt market and remain a topic of
interest for municipalities, investors, and regulators. Private placements are often sold …

This study examines how familiarities between the main actors in the underwriting process
affected the borrowing costs of municipal bonds in the primary market in California between …

States and municipalities throughout the United States depend on the municipal bond
market to raise funds for important investments in America's schools, roads and highways …

Using data from the California primary market, we find that on average Build America Bonds
(BABs) have after-subsidy interest rates approximately 72 basis points lower than tax …

This article reports on research into the possible interest cost penalties when state
governments impose increasingly high debt levels on their citizens. The potential effect of …