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Journal articles

Immunisation du budget des communes françaises au risque de taux d'intérêt

Abstract : French local communities run an interest rate risk, affecting their daily acts. However, actual management only concern debt hedging. The object of this paper is to suggest a really global approach from local budget. Effect of interest rate variations is estimated on expenses and receipts by econometrics of panel data. Empirical studies are based on 859 towns, during a 1993-1996 period. A fixed and indexed sharing out allows to immunize French local communities budget against interest rate risk.
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https://hal.univ-lorraine.fr/hal-03021951
Contributor : Muriel MICHEL-CLUPOT Connect in order to contact the contributor
Submitted on : Tuesday, November 24, 2020 - 3:36:26 PM
Last modification on : Friday, March 4, 2022 - 9:37:26 AM

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Muriel Michel. Immunisation du budget des communes françaises au risque de taux d'intérêt. Revue d'économie régionale et urbaine, Armand Colin, 2002, 3, pp.377-396. ⟨10.3917/reru.023.037⟩. ⟨hal-03021951⟩

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