This paper studies how the schooling system may be impacted by the number and skill type of immigrants. When the number of low-skilled immigrants is large, the education regime tends to become segregated. Wealthy locals are more likely to choose private schools and vote for a lower tax rate to...

This engaging book contains a set of original contributions to the much-debated issues of long-run economic growth in relation to institutional and social progress.

This paper puts forward a comprehensive framework to model medium-to-long term public debt refinancing strategies. Essentially the framework has two main building blocks. First, a large number of strategies are generated so as to determine a wide range of potential financing plans, regardless of...

We examine the public debt management problem with respect to the maturity mix of new issues in a mean-variance framework. After identifying the main determinants of the long-run target (strategy), we focus on which interest rate conditions allow for a temporary deviation (tactics). The study is...