This Policy Brief was adapted from a paper written by the three authors and presented by Bruegel Director Jean Pisani-Ferry at the informal ECOFIN Council meetings in Gothenburg, Sweden, on 1 Oct. In the brief, the authors argue that bank recapitalisation and restructuring should be a matter of...

We present a game that first models the relationship among a population, a government and a watchdog. The focus is on the incentives that the government faces when making fiscal policy decisions. The population has incomplete information about the type of government that is in office, but an...

We present a game that first models the relationship among a population, a government and a watchdog. The focus is on the incentives that the government faces when making fiscal policy decisions. The population has incomplete information about the type of government that is in office, but an...

[From the Introduction]. In the early 1980s, awareness grew of the important role that R&D plays in the process of economic growth. As a result of this, both the policy makers and academia institutionalised the idea that "technological development had a significant impact on the growth in...

[From the Introduction]. In the early 1980s, awareness grew of the important role that R&D plays in the process of economic growth. As a result of this, both the policy makers and academia institutionalised the idea that "technological development had a significant impact on the growth in...