Search results
Filter
24 results
Sort by:
Public debt and long-term interest rates: the case of Germany, Italy and the USA
In: Working paper series 656
Vicarelli, Keynes, and the unstable nexus between investment, liquidity, and finance
In: Journal of post-Keynesian economics, Volume 41, Issue 1, p. 16-35
ISSN: 1557-7821
Industrial Policy and its Funding at the Frontier of European Integration: Lessons from the Past and Present Challenges
In: Enterprise & society: the international journal of business history, p. 1-26
ISSN: 1467-2235
Industrial policy is back on the agenda of policymakers at a global level. In the EU, industrial policy has a very controversial history: it has been not only conditioned by the multilevel competencies shared between the EU and the Member States, by the different national priorities and the varieties of economic cultures, but also by the crucial problem of resources. Based on archival sources and relevant multidisciplinary literature, the paper traces the emergence of European initiatives in industrial policy from the 1960s until the launch of the Europe 2020 strategy (2010). Following this, the role of the Juncker Plan (2014) in promoting EU industrial policy is examined, highlighting the potential contradiction between ambitious goals and limited resources. Subsequently, an analysis is conducted to determine whether the launch of the new EU industrial strategy in 2020, coupled with the adoption of the Next Generation EU, could offer a blueprint for establishing an ambitious EU industrial policy and represent a potential Hamiltonian moment for the Union.
How speculation became respectable: early theories on financial and commodity markets
In: The European journal of the history of economic thought, Volume 28, Issue 2, p. 273-291
ISSN: 1469-5936
Monetary policy and price stability in British post-war debate: restatement of evidence from economists' papers presented to the Radcliffe Committee
In: The European journal of the history of economic thought, Volume 25, Issue 6, p. 1311-1341
ISSN: 1469-5936
Price Stability and the Origins and Early Influence of the Phillips Curve on British Policy Debates
In: History of political economy, Volume 50, Issue 3, p. 483-509
ISSN: 1527-1919
On the Difficulty of Interpreting Market Behavior in an Uncertain World: The Case of Oil Futures Pricing between 2003 and 2016
In: DISEI, Working Papers-Economics, Working Paper No. 16/2017
SSRN
Working paper
Speculative pricing in the Liverpool cotton futures market: a nonlinear tale of noise traders and fundamentalists from the 1920s
In: Cliometrica: journal of historical economics and econometric history, Volume 10, Issue 1, p. 31-54
ISSN: 1863-2513
Structural Reforms and Fiscal Discipline in Europe
In: Journal transition studies review: JTSR, Volume 15, Issue 2, p. 389-402
ISSN: 1614-4015
Transparency in the European Bond Market
In: Journal transition studies review: JTSR, Volume 14, Issue 1, p. 3-21
ISSN: 1614-4015
Fiscal shocks, public debt, and long-term interest rate dynamics
Public finances worldwide have been severely hit by the 2008-2009 Great Recession, stimulating the debate on the consequences of growing fiscal imbalances. Building on Paesani et al. (2006), this paper focuses on the USA, Germany and Italy over the 1983-2009 period and studies the effects of fiscal shocks and government debt accumulation on long-term interest rates, both nationally and across borders. Based on a theoretical framework, the empirical analysis disentangles permanent and transitory components of interest rates dynamics finding that sustained debt accumulation leads, at least temporarily, to higher long-term interest rates. This is particularly true for the Italian case. There is also evidence of significant cross-country linkages, mainly between Italy and the USA.
BASE
Fiscal shocks, public debt, and long-term interest rate dynamics
Public finances worldwide have been severely hit by the 2008-2009 Great Recession, stimulating the debate on the consequences of growing fiscal imbalances. Building on Paesani et al. (2006), this paper focuses on the USA, Germany and Italy over the 1983-2009 period and studies the effects of fiscal shocks and government debt accumulation on long-term interest rates, both nationally and across borders. Based on a theoretical framework, the empirical analysis disentangles permanent and transitory components of interest rates dynamics finding that sustained debt accumulation leads, at least temporarily, to higher long-term interest rates. This is particularly true for the Italian case. There is also evidence of significant cross-country linkages, mainly between Italy and the USA.
BASE