a second serious recession in 2011 because of the sovereign debt crisis. The reaction of Italian governments was mild at … the beginning and more convinced since the start of the sovereign debt crisis in 2011. Adopted policies contributed to … Italian economy to reduce the level of public debt and to return to sustained economic growth, which has been very weak for …

data in EU states concerning the level of debt, the level of gross domestic product (GDP) redistribution, and the level of … EU states. The main conclusions of this article are as follows: (i) EU countries recorded higher national debt levels and … debt growth rates between 2008 and 2015 than most non-EU Organisation for Economic Co-operation and Development (OECD …

The current paper explores the municipal debt crisis that resulted from the panic of 1873, which caused a significant … number of local governments in the U.S. to default on their debt obligations. The aftermath of that episode was one of … creditor guarantees regarding the issuing and repayment of debt, hard budget constraints, and also strict debt limits, while …

good times and complying with the Stability and Growth Pact. - Interest rates ; fiscal policy ; government debt ; crisis …

administration: (i) its use of public borrowing for redistributive purposes; and (ii) its public debt management based upon issuance … impact on public debt management. This tells the strange case of Doctor Jekyll who advocates the imitation of private sector … working of public administration, which makes it and its public debt different from private entities and their corporate …

Emerging market and developing economies have experienced recurrent episodes of rapid debt accumulation over the past … fifty years. This paper examines the consequences of debt accumulation using a three-pronged approach: an event study of … debt accumulation episodes in 100 emerging market and developing economies since 1970; a series of econometric models …

increase the probability of sub-national entities accumulating amounts of debt that may ultimately turn out to be unsustainable …. The underlying idea is to explore to what degree such debt levels could result from moral hazard-driven behaviour at the …