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We investigate the effects of official fiscal data and creative accounting signals on interest rate spreads between bond yields in the European Union. Our model predicts that risk premia contained in government bond spreads should increase in both the official fiscal position and the expected...
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We provide a first attempt to include o?-balance sheet, implicit insurance to SIFIs into a consistent assessment of fiscal sustainability, for 27 countries of the European Union. We first calculate tax gaps a la Blanchard (1990) and Blanchard et al. (1990). We then introduce two alternative...
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[fre] La détermination des taux de change dans les modèles multinationaux : l'état de l'art, . par Agnès Bénassy, Henri Sterdyniak.. . Cet article analyse les différents modèles théoriques de détermination du taux de change et présente ceux qui sont retenus dans les modèles...
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[fre] Comment se fixent les taux de change ? Un bilan, . par Agnès Bénassy.. . Cet article fait le point sur les connaissances actuelles relatives à la détermination des taux de change dans un régime de changes flottants. Les différentes théories sont mises en cohérence par ordre...
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[eng] Can Italy Take Part in the Creation of EMU . Can Italy satisfy the alignment criteria laid down by the Maastricht Treaty by the end of the decade ? The alignment of the Italian economy can only be achieved with the help of three highly restrictive conditions: an income policy to regulate...
Persistent link: https://www.econbiz.de/10008513649