Author/Editor: Anil Ari, David Bartolini, Vizhdan Boranova, Gabriel Di Bella, Kamil Dybczak, Keiko Honjo, Raju Huidrom, Andreas Jobst, Nemanja Jovanovic, Ezgi O Ozturk, Laura Papi, Sergio Sola, Michelle Stone, Petia Topalova.

Release Date:September, 2020

CESEE countries lag in terms of infrastructure compared to the EU15, and deficient infrastructure is often cited as a constraint to growth and convergence. Investing in infrastructure is therefore an more...

Author/Editor: Karim Barhoumi, Larry Q Cui, Christine Dieterich, Nicolas End, Matteo Ghilardi, Alexander Raabe, Sergio Sola.

Release Date:January, 2016

This paper conducts a systematic growth and fiscal analysis to determine: (1) the growth potential of Benin’s ambitious scaling-up of investment, and (2) how the government can generate the more...

Author/Editor: Sergio Sola, Geremia Palomba.

Release Date:May, 2015

This paper examines the determinants of sub-national governments risk premia using secondary market data for U.S., Canada, Australia and Germany. It finds that, as for central governments, fiscal more...

Author/Editor: Matteo Ghilardi, Sergio Sola.

Release Date:March, 2015

This paper studies the fiscal implications for the Beninese economy of scaling up of public
investment when the government is subject to inefficiencies on the spending and on the more...

Author/Editor: Mirko Abbritti, Salvatore Dell'Erba, Antonio Moreno, Sergio Sola.

Release Date:November, 2013

This paper introduces global factors within a FAVAR framework in an empirical affine term structure model. We apply our method to a panel of international yield curves and show that global factors more...

Author/Editor: Salvatore Dell'Erba, Sergio Sola.

Release Date:July, 2013

This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a more...