In a monetary union, the interaction between several governments and a single central bank is plagued by several sources of deficit bias, including common pool problems. Each government has strong preferences over local spending and taxation but suffers only part of the costs of union-wide...

Main aim of the paper is to discuss the relation between government deficit and debt and the importance of the aggregate known as stock-flow adjustments. The development of Czech government's debt confronted with deficits in the last years gave raise to a number of questions which are dealt with...

Compiling a unique dataset describing the career trajectories of 634 former and in office public officials at debt management units (DMUs) across 26 OECD countries, this article assesses the revolving door phenomenon in government debt management. The analysis' purpose is twofold: (i) to...

The issue of sovereign debt - its character and effect - is really part of the much larger battle between two fundamentally opposed visions of the nature and character of the nation-states in general, and debtor states in particular, and of the global system that maintains the market for such...

La proposta di utilizzare i proventi delle privatizzazioni al fine di diminuire il debito pubblico in Italia è criticata per diversi motivi. Il debito italiano, ora più di 133 per cento del Pil è il risultato di squilibri fiscali fondamentali, compresa la grande evasione fiscale. Senza di...

Budget stability seems to be mainly regulated through hard law, but in order to measure public debt, Eurostat has had to complement many aspects with informal instruments such as decisions in press releases, manuals, recommendations or decisions on particular cases contained in letters to the...

This paper contains an econometric analysis using country level panel data of 23 OECD countries for the period 1990-2000, extending existing empirical work, and more specifically work on the impact of privatization on public deficit, the impact on public debt and the impact on other...

The proposal to use privatization proceeds in order to decrease public debt in Italy is criticized for several reasons. The Italian debt, now more than 133 per cent of the GDP is the outcome of fundamental fiscal unbalances, including large tax evasion. Without targeting such unbalances, the...