Ajovalasit, Samantha; Consiglio, Andrea; Pagliardi, Giovanni - 2025
emerging markets of earlier literature. We establish a positive predictive relation of structural reforms to political ratings …, and benchmark reforms against a large-scale quantitative easing program and find them comparably effective, highlighting … debt financing maturities. We validate the model out-of-sample on the Italian 2014-2019 reforms, showing that it would have …