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Two main themes of the book are that (1) politics can distort optimal fiscal policy through...

This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget...

We look at the effect of exchange rate regimes on fiscal discipline, taking into account the...

Financial crises are traditionally analyzed as purely economic phenomena. The political economy...

The paper focuses on distributional consequences of macroeconomic adjustment. The preferences of...

This paper analyses the causes and consequences of fiscal consolidation promise gaps, defined as...