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, Germany, Italy, and Spain. The paper discusses that during 2001–04, the performance of the external sector differed markedly …This cross-country paper explains differences in external sector performance among four large euro area countries—France …
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exchange rate expectations and on interest rates on publicly held government debt. In Italy, the high stock of such debt in …
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, France, Japan, the Netherlands, Norway, Spain, Sweden and the United Kingdom. Together, these agreements provide a total of …
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Union is a major achievement but also a difficult process in the four countries (France, Germany, Italy, and Spain) …
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This paper develops a political-economy model of the budget process focusing on the common pool problem of the public budget. We show that the externality arising from the fact that public spending tends to be targeted at individual groups in society while the tax burden is widely dispersed...
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