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The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
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This paper investigates the relationship between fiscal contractions, permanent improvements in public finances and short-run economic performance.
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find that movements in debt induce stabilizing reactions in fiscal policy. In this context, expenditure and revenue shocks … expenditure. Expenditure multipliers are higher when we exclude from our sample the initial years and, in particular, when we …
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