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Samoa was hit hard by a strong tropical cyclone, and the authorities are to be commended for their swift response to the resulting disaster. Economic growth this fiscal year is expected to be significantly lower than projected prior to the cyclone, but there are encouraging signs of early...
Persistent link: https://www.econbiz.de/10011245381
Several models establish a positive association between public debt ratios and long-term real yields, but the empirical evidence is not always conclusive. We reconsider this issue, focusing in particular on possible spillover effects of large advanced economies' debt levels to other economies'...
Persistent link: https://www.econbiz.de/10009293780
Persistent link: https://www.econbiz.de/10004998651
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed by the Economic Modeling Division of the IMF for policy analysis and international economic research. Using a 5-region version of the GIMF, this paper illustrates the model’s...
Persistent link: https://www.econbiz.de/10011242434
Italy’s policy of fiscal consolidation and growth-friendly structural reforms has substantially improved its economic … flowed out of Italy to the core countries of the euro area. The Bank of Italy should continue to ensure that banks increase … financial crisis in Italy depends in part on action at the euro area level. As a member of the euro area, Italy has benefited …
Persistent link: https://www.econbiz.de/10011276838
Exploring the period since the inception of the euro, we show that secondary-market yields on Italian public debt increase in anticipation of auctions of new issues and decrease after the auction, while no or a smaller such effect is present for German public debt. However, these yield movements...
Persistent link: https://www.econbiz.de/10011255665
The paper argues that the Greek debt crisis, as well as those of other Southern European countries and Ireland, has to be seen in macroeconomic context. The sum of the public sector balance, the (domestic) private sector balance and the current account deficit (or equivalently: the capital...
Persistent link: https://www.econbiz.de/10010670267
environments. Country studies cover the United States, Italy, the Netherlands, Austria, Denmark, the United Kingdom, and … run and that all countries (with the possible exception of Italy) were able to return to a sustainable path after a period …
Persistent link: https://www.econbiz.de/10004973226
Exploring the period since the inception of the euro, we show that secondary-market yields on Italian public debt increase in anticipation of auctions of new issues and decrease after the auction, while no or a smaller such effect is present for German public debt. However, these yield movements...
Persistent link: https://www.econbiz.de/10010709527
Italy has to raise financial resources (especially in the election campaign), and/or how much the Italian economy is …
Persistent link: https://www.econbiz.de/10011188593