English Abstract: The main proposals for the reform of the European Union’s fiscal policy framework affect three blocks of issues: (i) simplifying the rules to make them more transparent and flexible; (ii) incorporating new supranational risk-sharing instruments into the Economic and Monetary...

In Bogota reforms in 1991 blocked a market for buying and selling of votes. The patronage lost effectiveness, citizens developed a vote of opinion and the city demonstrated an outstanding performance in the provision of public goods and services. This story is illustrated by a new panel with...

In Bogota reforms in 1991 blocked a market for buying and selling of votes. The patronage lost effectiveness, citizens developed a vote of opinion and the city demonstrated an outstanding performance in the provision of public goods and services. This story is illustrated by a new panel with...

Polish Abstract: Artykuł stanowi autorską analizę greckiego kryzysu budżetowego. W pierwszej części przedyskutowano źródła i przyczyny kryzysu, takie jak nadmierny bagaż zadłużenia, niekonkurencyjność gospodarcza i korupcja. Następnie autor docieka politycznych i ekonomicznych...

Años consecutivos de déficits primarios han conducido a una creciente deuda pública de casi el 50% del PIB, uno de los aumentos más rápidos en América Latina en la última década, y los intentos del gobierno para restablecer la salud fiscal se han visto socavados por la paralización en...

El sistema pensional colombiano se encuentra en una de las etapas más críticas de los últimos años, representando el mayor problema fiscal que enfrentarán las finanzas públicas en el y en los próximos veinte años. Las modificaciones a la legislación hechas desde 1993 beneficiaron a...

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....

The existence of incomplete financial markets, in an environment of uncertainty, is one of the problems of the Latin American economies, that determines a suboptimal path of public spending, with the consequent loss of social welfare. The existence of a high degree of positive correlation...