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We contribute to the intense debate on the real effects of fiscal stimuli by showing that the impact of government expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime, openness to trade, and public indebtedness. Based on a novel quarterly dataset of government expenditure in 44 countries, we find that (i) the output effect of an increase in government consumption is larger in industrial than in developing countries, (ii) the fisscal multiplier is relatively large in economies operating under predetermined exchange rate but zero in economies operating under flexible exchange rates; (iii) fiscal multipliers in open economies are lower than in closed economies and (iv) fiscal multipliers in high-debt countries are also zero.
The last two decades have seen a huge expansion in research in the area of lysosomal storage disorders, which has substantially extended our understanding of both the scientific and the clinical basis of these diseases. Lysosomal Storage Disorders: A Practical Guide is the fruit of an ambitious project aiming to review both the scientific and the clinical aspects of lysosomal storage disorders, resulting in this accessible volume, which gives an up-to-date overview of the subject. There is substantial scientific interest in these diseases: new advances in small molecule therapy are likely to be useful in the near future, and trials are already underway. Lysosomal storage disorders offer a un...
Showcasing the expertise of top-tier specialists who contributed to the newly released guidelines for the care of thrombosis in cancer patients, this exciting guide was written and edited by members of the American Society of Clinical Oncology panel, (ASCO), on the prevention and treatment of cancer-associated thrombosis, among others, and provides
This paper studies how the composition of fiscal adjustments influences their likelihood of “success”, defined as a long lasting deficit reduction, and their macroeconomic consequences. We find that fiscal adjustments which rely primarily on spending cuts on transfers and the government wage bill have a better chance of being successful and are expansionary. On the contrary fiscal adjustments which rely primarily on tax increases and cuts in public investment tend not to last and are contractionary. We discuss alterative explanations for these findings by studying both a full sample of OECD countries and by focusing on three case studies: Denmark, Ireland and Italy.
Marco Armiero is Senior Researcher at the Italian National Research Council and Marie Curie Fellow at the Institute of Environmental Sciences and Technologies, Universitat Aut(noma de Barcelona. He has published extensively on-Italian environmental history and edited Views from the South: Environmental Stories from the Mediterranean World. --
As the finite capacity and pollution problems of fossil fuels grow more pressing, new sources of more sustainable energy are being developed. Materials for energy conversion devices summarises the key research on new materials which can be used to generate clean and renewable energy or to help manage problems from existing energy sources.The book discusses the range of materials that can be used to harness and convert solar energy in particular, including the properties of oxide materials and their use in producing hydrogen fuel. It covers thermoelectric materials and devices for power generation, ionic conductors and new types of fuel cell. There are also chapters on the use of such materia...
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The Prince George Diaries is a new comedy about the Royal Family told from the inside out. Great diarists have changed the course of history, charted the swell of revolutions, the rise and fall of empires through the power of their pens. But for the first time ever, the gimlet eye of a tiny literary colossus - small in stature but mighty in influence - unlocks the closely guarded secrets of the British monarchy. How? He's one of them. The Prince George Diaries is a no-holds-barred exclusive never-before-seen fly-on-the-wall, behind the scenes rollercoaster exposé written from the inside. From David Cameron's weekly meetings with the Queen ('I've given up bread, Ma'am - can you tell?') Princ...