The euro is a survivor. The new currency, brought into being on January 1, 1999, has defied early critics, who thought it doomed to failure.
Collective Action Clauses are like prenuptial agreements: distinctly unromantic at the beginning but extraordinarily useful at the end. (Buccheit, 2002) COLLECTIVE ACTION CLAUSES IN SOVEREIGN BONDS CACs are contractual clauses that allow a certain majority of bondholders to change some features of the bond itself (e.g. maturity, interest rate, frequency of payment, etc.) and to make this […]
by Fabiano Colombini Abstract: This paper analyses the BTP-Bund spread evolution by focussing on the impact it has on public debt, banks, financial intermediaries, financial markets and the Italian economy during the period January-to-October 2018. In this regard, the BTP-Bund spread represents the difference between the yield of Italian bonds and that of German […]
Gli effetti generalmente espansivi della manovra bocciata dalla Ue verrebbero prevedibilmente annullati dall’impennata nei tassi di interesse. Anche ipotizzando un moltiplicatore particolarmente generoso. Il governo italiano si trova in una situazione di stallo con la Commissione Europea sulla sua prima bozza di bilancio. Invece di ridurre il disavanzo, come promesso dal governo precedente, il nuovo […]
Maybe We Should Take Socialism Seriously – Noah Smith Curiosity can save us when lies come dressed as numbers – Tim Harford Italy’s Budget Isn’t as Crazy as It Seems – Ashoka Mody The Italian Budget: A Case of Contractionary Fiscal Expansion? – Olivier Blanchard & Jeronim Zettelmeyer Why should someone who is anti-austerity care […]
The Duran – News in Review – Episode 36.
There is a substantive body of medical methodological research in which the results of RCTs for a given treatment are compared to the results of observational studies for that same treatment. They show that, as compared to the RCTs, effect sizes in the observational studies are similar to those in RCTs, but that they are […]