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Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook x Public Economics x Financial Institutions and Services x clear all

The hidden transformation: the changing role of the state after the collapse of communism in Central and Eastern Europe

Oskar Kowalewski and Krzysztof Rybinski.

in Oxford Review of Economic Policy

December 2011; p ublished online December 2011 .

Journal Article. Subjects: National Government Expenditures and Related Policies; Financial Institutions and Services; Monetary Policy, Central Banking, and the Supply of Money and Credit; Financial Regulation; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Socialist Institutions and their Transitions. 10353 words.

This article reviews the state’s role in the transition economies of Central and Eastern Europe. Among the countries, Poland is perceived as the leader because it was the first economy to...

Sovereign Debt, Government Myopia, and the Financial Sector

Viral V. Acharya and Raghuram G. Rajan.

in The Review of Financial Studies

June 2013; p ublished online April 2013 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Financial Institutions and Services; National Budget, Deficit, and Debt. 14348 words.

What determines the sustainability of sovereign debt? We develop a model where myopic governments seek popularity but can nevertheless commit credibly to service external debt. They do not...