. Past research has found that fiscal adjustment episodes coincide with large public investment cuts, a pattern we also … investment during fiscal consolidations differs significantly depending on fiscal rule design. Fiscal rules can be flexible …-defined escape clauses, and differential treatment of investment expenditures) or rigid, meaning they establish numerical limits on …

persistent decline in investment. Moreover, the territorial dispute has led to persistent pessimism in these firms' expectations … about future sales, which can explain 60% of the overall decline in investment. …

investment finds that a flexible FR helps to mitigate the negative effects of fiscal consolidations on provincial public … investment. Based on the previous analysis, guidelines for a proposal for a FR in Argentina are provided. …

, Germany's exports are less vulnerable to price increases, while exports from France and Italy respond strongly to price …What explains Germany's superb export performance? Is Germany's export behaviour very distinct compared to other …-wage countries reduces costs allowing exporters to compete on price. Second, we find that Germany is the leading quality exporter in …