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Public deficits and borrowing costs: the missing half of market discipline
Heinemann, Friedrich; Winschel, Viktor - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001
EMU driven interest rate convergence has led to a significant reduction of borrowing costs for some European governments in the second half of the nineties. The paper deals with the possible consequences for deficit behaviour. Although the impact of interest rates on deficits is a crucial...
Persistent link: https://www.econbiz.de/10005097801
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Market discipline and the use of government bonds as collateral in the EMU
Ullrich, Katrin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2006
The confidence that financial markets are able to discipline the debt behaviour of governments is not very high. Therefore, the Stability and Growth Pact has been implemented as an institutional constraint to substitute for the market mechanism. With the weakening of the Pact, market discipline...
Persistent link: https://www.econbiz.de/10005098173
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Delay and secrecy: Does industry sponsorship jeopardize disclosure of academic research?
Czarnitzki, Dirk; Grimpe, Christoph; Toole, Andrew A. - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011
The viability of modern open science norms and practices depend on public disclosure of new knowledge, methods, and … on disclosure using individual-level data on German academic researchers. Accounting for selfselection into extramural … sponsorship, our evidence strongly supports the perspective that industry sponsorship jeopardizes public disclosure of academic …
Persistent link: https://www.econbiz.de/10008869222