Austria, Germany, Italy, the Netherlands, Swe­den, Switzerland and the UK. We exploit within-country variation in social …

, Germany, Italy, the Netherlands, Sweden, Switzerland and the UK. Exploiting within-country variation, we show that a one …

, Germany, Italy, the Netherlands, Sweden, Switzerland and the UK. Exploiting within-country variation, we show that a one …

, Germany, Italy, the Netherlands, Sweden, Switzerland and the UK. We exploit within-country variation in social capital and …

public universities, of which 73 public universities in Germany and 60 public universities in Italy observed over the period …

sample of 133 public universities, of which 73 public universities in Germany and 60 public Italian universities, observed …

sample of 133 public universities, of which 73 public universities in Germany and 60 public Italian universities, observed …

followed neutral policies based on expenditure rules since the start of EMU. It also calculates the implications for debt … trends. It finds that, all sample countries except Germany applied expansionary expenditure policies. This resulted in much … higher expenditure and debt paths compared to a counterfactual neutral expenditure stance. Simple and prudent rules …