Edited by the late Giuseppe Eusepi, formerly Professor of Public Finance, Department of Law and Economics of Productive Activities, Sapienza University of Rome, Italy and Richard E. Wagner, Emeritus Professor of Economics, George Mason University, US

• Contents:PrefacePART I PUBLIC DEBT AND INDIVIDUAL RATIONALITY1. De Viti de Marco vs. Ricardo on Public Debt: Self-Extinction or Default?Giuseppe Eusepi and Richard E. Wagner2. Governing the Market for Sovereign BailoutsKarsten Mause3. Political Obligations: Is Debt Special?Geoffrey Brennan4. Debt Default and the Limits of the Contractual Imagination: Pareto and Mosca Meet BuchananRichard E. WagnerPART II MACRO CONSEQUENCES AND IMPLICATIONS OF PUBLIC DEBT5. Political economy of government solvency - the institutional framework for stability and sustainabilityAndrea Rieck and Ludger Schuknecht6. On Some Recent Proposals of Public Debt Restructuring in the EurozoneErnesto Longobardi and Antonio Pedone7. Economic governance in the euro area: balancing risk reduction and risk sharingFabrizio Balassone, Sara Cecchetti, Martina Cecioni, Marika Cioffi, Wanda Cornacchia, Flavia Corneli and Gabriele Semeraro8. Adjustments in the balance sheets – is it normal, this “new normal”?Liviu Voinea, Alexie Alupoaiei, Florin Dragu and Florian NeaguIndex

Edited by the late Giuseppe Eusepi, formerly Professor of Public Finance, Department of Law and Economics of Productive Activities, Sapienza University of Rome, Italy and Richard E. Wagner, Emeritus Professor of Economics, George Mason University, US

• Contents:PrefacePART I PUBLIC DEBT AND INDIVIDUAL RATIONALITY1. De Viti de Marco vs. Ricardo on Public Debt: Self-Extinction or Default?Giuseppe Eusepi and Richard E. Wagner2. Governing the Market for Sovereign BailoutsKarsten Mause3. Political Obligations: Is Debt Special?Geoffrey Brennan4. Debt Default and the Limits of the Contractual Imagination: Pareto and Mosca Meet BuchananRichard E. WagnerPART II MACRO CONSEQUENCES AND IMPLICATIONS OF PUBLIC DEBT5. Political economy of government solvency - the institutional framework for stability and sustainabilityAndrea Rieck and Ludger Schuknecht6. On Some Recent Proposals of Public Debt Restructuring in the EurozoneErnesto Longobardi and Antonio Pedone7. Economic governance in the euro area: balancing risk reduction and risk sharingFabrizio Balassone, Sara Cecchetti, Martina Cecioni, Marika Cioffi, Wanda Cornacchia, Flavia Corneli and Gabriele Semeraro8. Adjustments in the balance sheets – is it normal, this “new normal”?Liviu Voinea, Alexie Alupoaiei, Florin Dragu and Florian NeaguIndex

Edited by the late Giuseppe Eusepi, formerly Professor of Public Finance, Department of Law and Economics of Productive Activities, Sapienza University of Rome, Italy and Richard E. Wagner, Emeritus Professor of Economics, George Mason University, US

• Contents:PrefacePART I PUBLIC DEBT AND INDIVIDUAL RATIONALITY1. De Viti de Marco vs. Ricardo on Public Debt: Self-Extinction or Default?Giuseppe Eusepi and Richard E. Wagner2. Governing the Market for Sovereign BailoutsKarsten Mause3. Political Obligations: Is Debt Special?Geoffrey Brennan4. Debt Default and the Limits of the Contractual Imagination: Pareto and Mosca Meet BuchananRichard E. WagnerPART II MACRO CONSEQUENCES AND IMPLICATIONS OF PUBLIC DEBT5. Political economy of government solvency - the institutional framework for stability and sustainabilityAndrea Rieck and Ludger Schuknecht6. On Some Recent Proposals of Public Debt Restructuring in the EurozoneErnesto Longobardi and Antonio Pedone7. Economic governance in the euro area: balancing risk reduction and risk sharingFabrizio Balassone, Sara Cecchetti, Martina Cecioni, Marika Cioffi, Wanda Cornacchia, Flavia Corneli and Gabriele Semeraro8. Adjustments in the balance sheets – is it normal, this “new normal”?Liviu Voinea, Alexie Alupoaiei, Florin Dragu and Florian NeaguIndex