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Bortolotti, Bernardo; Faccio, Mara - 2004

We study the evolution of the control structure of 141 privatized firms from OECD countries over the period from 1996 through 2000. We find that governments do not relinquish control after "privatization." We show that the market-to-book ratios of privatized firms converge through time to those...

Persistent link: https://www.econbiz.de/10011325012

Building on institutional failures: The European Treaty on Stability, Coordination and Governance. Or: why the crisis in the Eurozone is so deep and persistent

Coriat, Benjamin - 2014

The paper is devoted to an analysis of the Treaty on Stability Coordination and Governance (TSCG), also known as the "Fiscal Compact" Treaty signed between the EU member states in 2012. We argue than the TSCG, instead of helping to "repair" the institutional failures on which the Euro and the...

Persistent link: https://www.econbiz.de/10011335933

Financing the capital development of the economy: A Keynes-Schumpeter-Minsky synthesis

Mazzucato, Mariana; Wray, L. Randall - 2015

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

Persistent link: https://www.econbiz.de/10011335945

Europäische Union und Euro - wie geht es weiter? Rechtliche Überlegungen

Hirdina, Ralph - 2015

Antieuropäische Strömungen scheinen sich in jüngster Zeit in der Europäischen Union wieder zu formieren. Im Zuge der Eurokrise sind Konstruktionsfehler der Eurozone in den Mittelpunkt gerückt. Die Abhandlung befasst sich mit ausgewählten Rechtsaspekten der Eurokrise, die von der Politik in...

Persistent link: https://www.econbiz.de/10011345663

Public debt sustainability in Africa: Building resilience and challenges ahead

Ncube, Mthuli; Brixiová, Zuzana - 2015

The increased access of African countries to international capital markets has put public debt sustainability once … balances exceeded those required to keep public debt at the 2007 level in about half of the countries studied. In several cases … with high debt burdens, the balances were above those needed to reduce public debt-to-GDP to sustainable thresholds. In …

Persistent link: https://www.econbiz.de/10011348247

European universities during the crisis: A public policy perspective, with a brief excursion to the US

Ritzen, Jo - 2015

by the agreed upon maximum levels of the budget deficit and Government debt. Political institutions appear to determine …

Persistent link: https://www.econbiz.de/10011348248

A reconsideration of multiple equilibria in the analysis of one-period government bonds with default risk

Guo, Yanling - In: Economics: The Open-Access, Open-Assessment E-Journal 9 (2015) 2015-33, pp. 1-52

In this paper, the author considers sovereign debt in the form of one-period government bonds with default risk, which … debt share also determines the default risk: a higher domestic debt share means a lower default risk, ceteris paribus …, which leads to a lower risk premium; while a lower domestic debt share means a higher default risk and a higher risk premium …

Persistent link: https://www.econbiz.de/10011371997

Regras fiscais no Brasil e na Europa: Um estudo comparativo e propositivo

Gobetti, Sérgio Wulff - 2014

This paper aims to contribute to the debate on possible changes in the Brazilian tax system in the light of recent experience of the European Union (EU) and the United Kingdom, with regard to tax rules. International evidence indicates, according to the International Monetary Fund (IMF) Fiscal...

Persistent link: https://www.econbiz.de/10011372301

A new strategy for the European periphery

Aiginger, Karl - 2013

The southern European periphery suffered a severe setback in its catching-up process versus Western Europe after the financial crisis with GDP dropping by 10% between 2008 and 2012 and unemployment increasing to 20% for Greece, Portugal and Spain. We analyze first the reason for this setback,...

Persistent link: https://www.econbiz.de/10011410842

Finanzpolitik: Haushaltsspielräume werden enger - umso wichtiger sind jetzt richtige Ausgabeentscheidungen

van Deuverden, Kristina - In: DIW Wochenbericht 82 (2015) 51/52, pp. 1218-1227

Die öffentlichen Haushalte dürften auch in den Jahren 2016 und 2017 mit Überschüssen abschließen, allerdings sinken diese: Ab Mitte des kommenden Jahres wird der Zustrom von Asylsuchenden zunehmend die Ausgaben des Bundes steigen lassen; auf kommunaler Ebene haben die Ausgaben bereits...

Persistent link: https://www.econbiz.de/10011417075