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THE SUSTAINABILITY OF ITALIAN DEBT

Permanent Link: http://ncf.sobek.ufl.edu/NCFE004703/00001

Material Information

Title: THE SUSTAINABILITY OF ITALIAN DEBT
Physical Description: Book
Language: English
Creator: Ash, Moshe
Publisher: New College of Florida
Place of Publication: Sarasota, Fla.
Creation Date: 2013
Publication Date: 2013

Subjects

Subjects / Keywords: Debt
Italy
Sustainability
Genre: bibliography   ( marcgt )
theses   ( marcgt )
government publication (state, provincial, terriorial, dependent)   ( marcgt )
born-digital   ( sobekcm )
Electronic Thesis or Dissertation

Notes

Abstract: This thesis seeks to analyze the sustainability of fiscal policy in the Italian Republic, where the debt to GDP ratio is among some of the world's highest. A test for Italy's debt sustainability is run as a regression, using a modified form of an equation developed by Bohn (1998). The test reveals that the government's fiscal policy is ultimately sustainable, notwithstanding the fact that there exist various complications with the nation's economy, which are herein detailed. The thesis explores the foundations of debt sustainability literature, and provides an overview of the Italian economy and the difficulties it currently faces. Research done on the topic attempts to provide a framework for debt sustainability within a specific country, and provides a comprehensive analysis of the peculiarities and distinct statistics unique to said country. Whereas Italy's debt was found to be sustainable, the thesis thus expresses the contemporary issues that initially gave rise to suspicion.
Statement of Responsibility: by Moshe Ash
Thesis: Thesis (B.A.) -- New College of Florida, 2013
Electronic Access: RESTRICTED TO NCF STUDENTS, STAFF, FACULTY, AND ON-CAMPUS USE
Bibliography: Includes bibliographical references.
Source of Description: This bibliographic record is available under the Creative Commons CC0 public domain dedication. The New College of Florida Libraries, as creator of this bibliographic record, has waived all rights to it worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.
Local: Faculty Sponsor: Khemraj, Tarron

Record Information

Source Institution: New College of Florida
Holding Location: New College of Florida
Rights Management: Applicable rights reserved.
Classification: local - S.T. 2013 A8
System ID: NCFE004703:00001

Permanent Link: http://ncf.sobek.ufl.edu/NCFE004703/00001

Material Information

Title: THE SUSTAINABILITY OF ITALIAN DEBT
Physical Description: Book
Language: English
Creator: Ash, Moshe
Publisher: New College of Florida
Place of Publication: Sarasota, Fla.
Creation Date: 2013
Publication Date: 2013

Subjects

Subjects / Keywords: Debt
Italy
Sustainability
Genre: bibliography   ( marcgt )
theses   ( marcgt )
government publication (state, provincial, terriorial, dependent)   ( marcgt )
born-digital   ( sobekcm )
Electronic Thesis or Dissertation

Notes

Abstract: This thesis seeks to analyze the sustainability of fiscal policy in the Italian Republic, where the debt to GDP ratio is among some of the world's highest. A test for Italy's debt sustainability is run as a regression, using a modified form of an equation developed by Bohn (1998). The test reveals that the government's fiscal policy is ultimately sustainable, notwithstanding the fact that there exist various complications with the nation's economy, which are herein detailed. The thesis explores the foundations of debt sustainability literature, and provides an overview of the Italian economy and the difficulties it currently faces. Research done on the topic attempts to provide a framework for debt sustainability within a specific country, and provides a comprehensive analysis of the peculiarities and distinct statistics unique to said country. Whereas Italy's debt was found to be sustainable, the thesis thus expresses the contemporary issues that initially gave rise to suspicion.
Statement of Responsibility: by Moshe Ash
Thesis: Thesis (B.A.) -- New College of Florida, 2013
Electronic Access: RESTRICTED TO NCF STUDENTS, STAFF, FACULTY, AND ON-CAMPUS USE
Bibliography: Includes bibliographical references.
Source of Description: This bibliographic record is available under the Creative Commons CC0 public domain dedication. The New College of Florida Libraries, as creator of this bibliographic record, has waived all rights to it worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.
Local: Faculty Sponsor: Khemraj, Tarron

Record Information

Source Institution: New College of Florida
Holding Location: New College of Florida
Rights Management: Applicable rights reserved.
Classification: local - S.T. 2013 A8
System ID: NCFE004703:00001


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THE SUSTAINABILITY OF ITALIAN DEBT BY MOSHE ASH A T he sis S ubm i t t e d to t he Divisi o n of Soci a l S c ien ce s N e w Coll e g e of F lorida in p a rtial f ulfil l ment of the re qui r e ments for the d e g r e e B ac h e lor of A rts in Economics and Applied Mathematics Und e r the sponsorship of T a r r on K h e mr a j S a r a sota, F L M a y 2013

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c (3&!.$./E+&+!01!$1(! 0&-)$)():&/E !0&*1$+(%.(&!312!$&6.():&!+31'R+!(1!(3&! :.%).4/&+!1-!=><,!&I '3.$6&!%.(&+,!61:&%$*&$ (!&I9&$0)(7%&,!&(',!)*9.'(!(3&! .''7*7/.()1$!1-!0&4( ;! U&'.7+&!1-!(3)+,!(3&%&!.%&!)$+(.$'&+!)$!23)'3!7$+7+(.)$.4/&!-)+'./!91/)')&+!'.$! +&&*)$6/E! +.()+-E!(3&!9%&+&$(!:./7&!4706&(!'1$+(%.)$(,!.$0 !+7+(.)$.4/&!91/)')&+! .99.%&$(/E!'.$$1(! +.()+-E!(31+&!'1$0)()1$+;!S+!+7'3,!.//! %)61%17+! .$./E+&+!1-! +7+(.)$.4)/)(E *.E !(.R&!)$(1!.''17$(!&I9&'(&0!'3.$6&+!)$!91/)'E,!.$0!.//12!.!-)$)(&! 31%)51$!.99%1.'3 ,!(31763!(3)+!*.E!$1(!./2.E+!4&!91++)4/& ; !Y)$'& !. '1*9%&3&$+):&! +(70E!1-! 0&4(!+7+(.)$.4)/)(E!)+! 7/()*.(&/E!.!-1%2.%0 F -.')$6! .$0!9%&0)'()1$ F *.R)$6! 9%1'&++ ,!)(!'.$$1(!.++7%&0/E!4&!&:./7.(&0!2)(3!.4+1/7(&!'1$-)0&$'&; !`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d1%!%&+(%7'(7%)$6!1-!0&4( !'17/0!

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c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a!%.$R&0!'17$(%)&+!.$0!(&%%)(1%)&+,!4E!G1%/0!U.$R! &+()* .(&+!-1%!BC"CD!.$0!.!K71(. F 4.+&0!)**)6%.()1$!9 1/)'E,!)(+!/.41%!-1%'& !)+!

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