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The Greek Fiscal Crisis and the Role of Fiscal Governance

Kaplanoglou, Georgia; Rapanos, Vassilis T. - London School of Economics (LSE) - 2011

Greece over the last decade and challenges the widely held view that optimistic macroeconomic forecasts adopted by the Greek … the domestic institutional framework for conducting fiscal policy in Greece. …

Persistent link: https://www.econbiz.de/10010686668

Allocating the US federal budget to the states: the impact of the President

Larcinese, Valentino; Rizzo, Leonzio; Testa, Cecilia - London School of Economics (LSE) - 2005

This paper provides new evidence on the determinants of the US federal budget allocation to the states. Departing from the existing literature that gives prominence to Congress, we carry on an empirical investigation on the impact of Presidents during the period 1982-2000. Our findings suggest...

Persistent link: https://www.econbiz.de/10010745501

Do small states get more federal monies?: myth and reality about the US Senate malapportionment

Larcinese, Valentino; Rizzo, Leonzio; Testa, Cecilia - London School of Economics (LSE) - 2009

We analyze the relationship between senate malapportionment and the allocation of the US federal budget to the states during the period 1978-2002. A substantial literature originating from the influential paper by ?) finds that small and overrepresented states get significantly larger shares of...

Persistent link: https://www.econbiz.de/10011071423

Change, continuity and consolidation assessing five years of Montenegro's independence

Morrison, Kenneth - London School of Economics (LSE) - 2011

The first publication in the LSEE Papers series, Tim Judah's stimulating paper on the emergence of increased cooperation and links across the former Yugoslavia, initiated a lively debate in the region itself and also further abroad. Keen to maintain this momentum with the second issue we are...

Persistent link: https://www.econbiz.de/10010746206

Fiscal decentralization and economic growth in Central and Eastern Europe

Rodríguez-Pose, Andrés; Krøijer, Anne - London School of Economics (LSE) - 2009

The majority of the literature on fiscal decentralization has tended to stress that the greater capacity of decentralized governments to tailor policies to local preferences and to be innovative in the provision of policies and public services, the greater the potential for economic efficiency...

Persistent link: https://www.econbiz.de/10011071215

The privatisation of public utilities in Croatia: an assessment of the major gains and pains

Čučković, Nevenka; Jurlin, Krešimir; Vučković, … - London School of Economics (LSE) - 2011

The aim of the research on which this paper is based was to investigate, and where possible measure, the effects of policies of marketisation and privatisation of the telecommunication and the oil and gas industries in Croatia with respect to their business efficiency, management, employment...

Persistent link: https://www.econbiz.de/10011071313

Financing and corporate growth under repeated moral hazard

Anderson, Ronald W.; Nyborg, Kjell G. - London School of Economics (LSE) - 2001

as inside equity and debt. We call our framework the two-stage model of firm growth. A key finding is that outside equity … promotes ex post efficiently (second stage growth) at the expense of ex ante efficiently (first stage growth) which debt work … the opposite way. This is because equity promotes replacement of the entrepreneur, while debt promotes entrenchment. So …

Persistent link: https://www.econbiz.de/10010744895

Mapping and measuring the distribution of household wealth: a cross-country analysis

Cowell, Frank; Karagiannaki, Eleni; McKnight, Abigail - London School of Economics (LSE) - 2012

wealth households but high relative measures of wealth inequality. Italian households hold very little debt and are much more … to hold much more housing debt well into retirement. Increases in owner occupation and house prices 2000-05 in the UK has … composition, educational attainment and income as well as wealth and debt portfolios. Educational loans are increasing in their …

Persistent link: https://www.econbiz.de/10010746528

Capital structure, investment, and fire sales

Gale, Douglas; Gottardi, Piero - London School of Economics (LSE) - 2014

, trading off the tax advantages of debt against the risk of costly default. The costs of bankruptcy are endogenously determined … constrained inefficient. In particular there is too little debt and too little default. …

Persistent link: https://www.econbiz.de/10011170093

Accounting for cross-country differences in wealth inequality

Cowell, Frank; Karagiannaki, Eleni; McKnight, Abigail - London School of Economics (LSE) - 2013

This paper adopts a counterfactual decomposition analysis to analyse cross-country differences in the size of household wealth and levels of household wealth inequality. The findings of the paper suggest that the biggest share of cross-country differences is not due to differences in the...

Persistent link: https://www.econbiz.de/10011126314