Description

The considerable sovereign indebtedness of developed economies and the accumulated risks in the financial sector trigger increasing financial and economic instability worldwide. The book examines the core interactions between financial markets and public finance: How do markets value fiscal sustainability and contingent liabilities of governments? Which institutions might contain public indebtedness? Which institutions contribute to the sound functioning of financial markets and how do they work? Which channels of transmission of fiscal policy on economic activity are relevant? How to contain sovereign debt crises?

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