000			01463nab a2200229 c 4500
999			_c145533 _d145533
003			ES-MaIEF
005			20220315134029.0
007			ta
008			220315t2021 us ||||| |||| 00| 0|eng d
040			_aES-MaIEF _bspa _cES-MaIEF
100	1		_969551 _aLofton, Michelle L.
245		4	_aThe use of short-term debt by general-purpose governments _c Michelle L. Lofton, Sharon N. Kioko
260			_c2021
500			_aResumen.
504			_aBibliografía.
520			_aThis paper analyzes local government use of short-term debt. Though long-term debt, largely used for capital projects, is relatively well-researched, predictors for the use of short-term debt need to be further developed. We hypothesize that governments with limited cash reserves and expenditure flexibility are more likely to use short-term debt. Further, we expect that governments use short-term debt as an instrument to manage market timing for long-term debt. Using a heterogeneous sample of New York local governments, our analysis finds more illiquidity, declining prior year surplus, more salary expenditures, larger capital spending, and the timing of long-term debt increase the likelihood of using short-term debt.
650		4	_aDEUDA PUBLICA LOCAL _942648
650		4	_aESTADOS UNIDOS _942888
700			_958959 _aKioko, Sharon N.
773	0		_9166806 _oOP 1716/2021/4 _tPublic Budgeting and Finance _w(IEF)90019 _x0275-1100 _gv. 41, n. 4, Winter 2021, p. 71-93
942			_cART