The article shows that the disjunctive stated by Hernández et. al. between pay or excise national public debt is not relevant. Discussion should focus on the current price that is paid for national public debt. Treasury is offering TES on the market at an interest rate much greater than DTF....

This paper contributes to the debate regarding national government debt. It asks if government should excise public debt through inflation or pay it as it was stipulated, and argues that, from an economic and social point of view, what is desirable is the just fulfillment of State obligations....

Challenges triggered by the current economic and financial crisis are multiple. In the short term the main challenge is finding solutions that will restore investor confidence and long-term consumatorilor.Pe, the main challenge is to adjust the principles that guide the international financial...

The paper analizes the convergence between Romanian and European fiscal policy in terms of three issues: the fiscal revenues percentage of GDP, the structure of public revenues and the public budget deficit (under the constrait of 3% of GDP). The analysis reveals small differences for the first...

This paper incorporates the strategic interactions between tax payers and fiscal authorities to the standard theory of fiscal evasion. The existence and (local) unicity of Nash equilibrium are demonstrated by the players' best responses. Through a numerical analysis, it is concluded that...

This article analyzes the tax revenues of the Colombian central government and those of the federal states between 1850 and 1882. It aims to determine whether political decentralization of revenues and expenditures favored and improved the fiscal sustainability of Colombia during this period....

This second paper from Mauricio Avella describes the complete cycle of capital exports originating in the United States in the 1920’s: the conversion of United States into a creditor nation; the role of New York as the dominant financial center; and the distribution of United States...

Latin American access to international markets since the beginning of the 19th century has depended on the cyclical behaviour of foreign indebtedness. This document studies Great Britain’s cycles of boom and recession in international credit and Latin American participation on the...

This paper examines the effect of foreign acquisitions on the capital structure of corporations. A multivariate analysis using debt flow data examines the relation between additional financing through long-term debt after foreign acquisitions and the characteristics of these acquisitions, the...

El objetivo de este trabajo es estudiar los posibles efectos que sobre los gastos de capital de los municipios españoles tendrá la normativa de estabilidad presupuestaria. Dicho análisis se va a realizar para los distintos estratos de población, ya que pueden existir divergencias relevantes...