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Public Investment under Budgetary Constraints in New Member States

The University Centre receiving the EIBURS was expected to be involved in research related to the arbitrage between fiscal policy targets, such as the Maastricht ceilings, and economic development objectives.  In particular, it should focus on the possible trade-offs and/or conflicts between economic targets and/or instruments in countries in the process of adopting the EURO (i.e. the New Member States).

This line of research can develop and combine three paths:

  • Macroeconomic analysis of the effects of public investment;
  • Estimation of the cost of the necessary infrastructure;
  • Cost-benefit analysis methods and their application to the shadow pricing of the Government budgetary constraint under alternative macroeconomic assumptions.  Rigorous empirical testing of alternative methodological approaches and statistical validation of possible normative conclusions should be sought.

Related information

EIBURS Coordinator

  • Prof. Massimo Florio
  • massimo.florio@unimi.it