Over the last decade, the Eurosystem has become one of the crucial players in the market for euro area government bonds. After first substantive purchases through the Securities Market Programme (SMP) in 2010,…
Over recent years, the concept of ‘European identity’ has received increasing scholarly attention. Despite this progress, political initiatives to foster a shared feeling of Europeanness still appear to be…
What are the effects of austerity on distributional policy? We exploit the autonomy of Italian municipalities in setting non-linear income taxes and the exogenous introduction of a fiscal rule to show that…
