Public Debt and Budgetary Procedures: Top Down or Bottom Up? Some Evidence from Swiss Municipalities

Lars P. Feld and Gebhard Kirchgassner, Fiscal Institutions and Fiscal Performance (University of Chicago Press, 1999), chap. 7, https://www.nber.org/books-and-chapters/fiscal-institutions-and-fiscal-performance/public-debt-and-budgetary-procedures-top-down-or-bottom-some-evidence-swiss-municipalities.