The economic crisis of 2008-09 has greatly compounded the challenge of economic policymaking both at the EU level and at the national level by causing a permanent loss in potential output – which may reach between 4 per cent and 6 per cent in the case of Austria (Gaggl and Janger, 2009) –...

The paper analyses the medium-term objectives (MTOs) recently adopted by the EU Member States as a reference for the multilateral budgetary surveillance, assessing the ability of the new MTOs to promote long-term fiscal sustainability. The paper calibrates the (yet undisclosed) algorithm for...

This paper examines the budgetary problems of Japan and points to the persistent mismatch between expenditure and revenue and to the difficulties in achieving consolidation targets. The author notes that the tax system has not produced sufficient revenues. This reflects repeated tax reductions...

The paper analyses the main differences in the financial structure of Italian and European non financial corporations in the 2004-2007 period, that is during the years before the financial crisis. The research is based on individual balance sheets of Amadeus (Analyse Major Databases from...