Local governments in Japan account for about 80 per cent of general government spending when excluding social security expenditures. Therefore, for the implementation of fiscal policy it is important how local governments will behave. On the basis of the economic theories on fiscal federalism it...

Soliman (political economy and political science, American University in Cairo, Egypt) conducts a political-economic analysis of the regime of the recently ousted Hosni Mubarak, who ruled Egypt for 30 years until the Egyptian popular uprising of 2011. His central argument, influenced by both...

This paper studies the interaction between fiscal policy and bondholders against the backdrop of high sovereign debt levels. For our analysis, we investigate the case of Italy, a country that has dealt with high public debt levels for a long time, using a Bayesian structural VAR model. We extend...