Josselin, Jean-Michel; Padovano, Fabio; Rocaboy, Yvon - HAL - 2012
a comparative perspective. We estimate two separate but identical autoregressive forecasting model on French and Italian … rules and institutions they face. This allows to proxy the bailout expectations in both countries and their role in … determining soft budget spending behaviors. A larger impact of expectations is taken as evidence of greater discretion in fiscal …