Special investigation of Jasper County Transit for the period April 1, 2004 through April 1, 2006

Special investigation of Jasper County Transit for the period April 1, 2004 through April 1, 2006

Lending to the borrower from hell: Debt and default in the age of Philip II, 1556-1598

What sustained borrowing without third-party enforcement, in the early days of sovereignlending? Philip II of Spain accumulated towering debts while stopping all payments tohis lenders four times. How could the sovereign borrow much and default often? Weargue that bankers ability to cut off Philip II s access to smoothing services was key. Aform of syndicated lending created cohesion among his Genoese bankers. As a result,lending moratoria were sustained through a cheat the cheater mechanism (Kletzer andWright, 2000). Our paper thus lends empirical support to a recent literature emphasizingthe role of bankers incentives for continued sovereign borrowing.

Special investigation of the Searsboro Volunteer Fire/EMS Department for the period February 8, 2005 through September 21, 2008

Special investigation of the Searsboro Volunteer Fire/EMS Department for the period February 8, 2005 through September 21, 2008

Report on a review of selected general and application controls over the Iowa Department of Transportation’s Contractor Pay System for the period May 5, 2008 through July 31, 2008

Report on a review of selected general and application controls over the Iowa Department of Transportation’s Contractor Pay System for the period May 5, 2008 through July 31, 2008

Report on the review of selected general and application controls over the State University of Iowa PeopleSoft Human Resources Information System (HRIS) for the period June 3, 2008 through July 25, 2008

Report on the review of selected general and application controls over the State University of Iowa PeopleSoft Human Resources Information System (HRIS) for the period June 3, 2008 through July 25, 2008

Banks, government bonds, and default: what do the data say?

We use data from Bankscope to analyze the holdings of public bonds by over 18,000 banks located in 185 countries and the role of these bonds in 18 sovereign debt crises over the period 1998-2012. We find that: (i) banks hold a sizeable share of their assets in government bonds (about 9% on average), particularly in less financially developed countries; (ii) during sovereign crises, banks on average increase their bondholdings by 1% of their assets, but this increase is concentrated among larger and more profitable banks, and; (iii) the correlation between a bank's holdings of public bonds and its future loans is positive in normal times, but turns negative during defaults. A 10% increase in bank bond-holdings during default is associated with a 3.2% reduction in future loans, and bonds bought in normal times account for 75% of this effect. Our results are consistent with the view that there is a liquidity benefit for banks to hold public bonds in normal times, which is critical for understanding bank fragility during sovereign crises.

Report on the Community Development Block Grant and Home Investment Partnerships Programs administered by the Region XII Council of Governments for the period July 1, 2005 through November 21, 2008

Report on the Community Development Block Grant and Home Investment Partnerships Programs administered by the Region XII Council of Governments for the period July 1, 2005 through November 21, 2008

Reaudit report on the City of Fort Dodge, Iowa for the period July 1, 2005 through June 30, 2006

Reaudit report on the City of Fort Dodge, Iowa for the period July 1, 2005 through June 30, 2006

Report on the Iowa Industrial New Jobs Training Program (NJTP) for the period July 1, 2000 through June 30, 2008

Report on the Iowa Industrial New Jobs Training Program (NJTP) for the period July 1, 2000 through June 30, 2008

Special report on the City of Griswold for the period July 1, 2005 through February 28, 2009

Special report on the City of Griswold for the period July 1, 2005 through February 28, 2009

Report on a special investigation of the City of Russell for the period February 1, 2007 through September 30, 2008

Report on a special investigation of the City of Russell for the period February 1, 2007 through September 30, 2008

Report on a special investigation of the University of Northern Iowa, Camp Adventure Youth Services program for the period April 1, 2007 through March 31, 2008

Report on a special investigation of the University of Northern Iowa, Camp Adventure Youth Services program for the period April 1, 2007 through March 31, 2008

Special investigation of the City of Lacona for the period September 1, 2004 through August 15, 2008

Special investigation of the City of Lacona for the period September 1, 2004 through August 15, 2008

Review of the Abandoned Mined Land Reclamation program administered by the Department of Agriculture and Land Stewardship for the period July 1, 2003 through June 30, 2008

Review of the Abandoned Mined Land Reclamation program administered by the Department of Agriculture and Land Stewardship for the period July 1, 2003 through June 30, 2008

Report on a special investigation of the UNI Malcolm Price Laboratory School for the period July 1, 2006 through March 31, 2009

Report on a special investigation of the UNI Malcolm Price Laboratory School for the period July 1, 2006 through March 31, 2009