Fedeli, Silvia; Forte, Francesco; Ricchi, Ottavio - Dipartimento di Economia e Diritto, Facoltà di Economia - 2013
With the new European fiscal compact, fiscal rules of budget balance over the cycle have been introduced to limit the growth of the debt ratio to GDP. The objection may arise that they would have an adverse effect, especially in the long run on employment and growth. We test the proposition...