directions since then: Italy privatized its publicly-owned banks while Germany has maintained a large share of state … market integration ; deregulation ; total factor productivity ; Italy ; Germany. …

euro-area countries (Germany, France, Italy and Spain). With particularly rich micro datasets for each country containing … einzelwirtschaftlichen Investitionsverhaltens in den vier größten Ländern des Euro-Währungsraums (Deutschland, Frankreich, Italien und … sensitive to cash flow movements. However, only in Italy do smaller firms react more to cash flow movements than large firms …

This study analyses whether expected budget deficits have an impact on interest rate swap spreads in France, Germany … and Italy. We use monthly deficit forecasts from financial market participants to take the forward-looking behaviour of … financial markets into account. Results of a SUR estimation show no significant impact of expected deficits on swap spreads over …

horizon. In this paper, the efficiency gains from the joint estimation of forecast uncertainty for all horizons in such …

-parametric estimation is impractical given commonly available predictive sample sizes. Instead, this paper derives the approximate …