The dramatic increase in securitisation activity experienced in Europe in the years following
the introduction of the euro has altered the liquidity, credit and maturity transformation role …

This paper surveys the empirical research on fiscal policy analysis based on real‐time data.
This literature can be broadly divided into four groups that focus on:(1) the statistical …

We study sources and consequences of fluctuations in the US housing market. Slow
technological progress in the housing sector explains the upward trend in real housing …

Rather than stabilising aggregate demand, discretionary fiscal policy tends to amplify
cyclical fluctuations of output. The commonly accepted reasons are political economy and …

This article contributes to the growing empirical literature on family firms by studying the
impact of the founder–chief executive officer (CEO) succession in a sample of Italian firms …

This paper studies the effects of fiscal policy on private GDP, inflation and the long-term
interest rate in Italy using a structural Vector Autoregression model. To this end, a database …

In this paper, I estimate the ex ante or intentional cyclical stance of fiscal policy in OECD
countries. I use the fiscal plans reported at the time of budgeting, together with other …

This paper estimates a fiscal reaction function (FRF) framework for euro area countries and
derives a novel approach to measure fiscal fatigue. As in previous studies, we find evidence …

We analyze the determinants of the budget balance of 27 EU countries from 1991 to 2011
with a panel approach. Our focus is on the effectiveness of fiscal rules and fiscal councils as …

Small firms encounter difficulties in collecting external finance due to greater information
problems. For small innovative firms, whose activity is more difficult to evaluate, the cost of …