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The subject of this paper is four Balkan countries (Albania, Serbia, Macedonia, and Montenegro) that are determined to join the European Union. More particularly, it looks at their work towards accomplishing the political, legal and economic requirements for the EU. Thus, the legislation with...
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Given the rise in the government debt level in recent times, this paper aims to examine the effect of an increase in government size on risk premium and its transmission in the economy. We jointly identify the term spread shock (originating at the short end and the long end) and the government...
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We study the consequences of a large-scale austerity program targeting financially-constrained municipalities in Germany. For identification, we exploit the quasi-random assignment of treatment among equally-distressed municipalities using a difference-in-differences design. The policy helped...
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should spending be cut and how much should taxes be raised? Does the national debt represent a burden for future generations …? Should taxes on the rich be raised? This book examines how the tools of public economics can be applied to answer such key …. It would be possible to raise taxes more and to cut spending less. It is important to consider the full range of possible …
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