of different approaches to fiscal equalization schemes (Boadway and Flatters, 1982, and Weingast, 2006). We show that tax …

adopting costly reforms with future benefits and reconciles it with the evidence that reformist governments are not punished by … voters. To do so, it proposes a model of elections where political ability is ex-ante unknown and investment in reforms is …, politicians make too little reforms in an attempt to signal high ability and increase their reappointment probability. Although in …

This paper analyses the spectacular fiscal adjustment currently occurring in Italy. In 1990, the Italian General … Europe is almost non-existent; in the budget process most of the traditional divergences between the appropriations approved … Italian fiscal adjustment. They concern the excessive use of taxation, the cut of public investment, the insufficiency of …

implemented a comprehensive set of institutional reforms. In this Paper we present a theoretical and empirical framework to …, employment protection, union bargaining power and (de)centralization of bargaining. We argue that complementarities between LMI …

the form of large fiscal deficits and very high rates of inflation; but the Greek economy also fares poorly in other … successful program to restore fiscal and monetary stability – by the end of 2000, it had qualified for admission to the Euro …

What are the effects of institutional subversion on small business development, fiscal policies, economic growth, and …

program in Senegal, which decentralized a portion of the country’s education budget. We find large positive effects on test …