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The Italian (Economic) Job

Almost two years ago, Andrew Ang and Francis A. Longstaff pointed out that the empirical evidence suggests that systemic sovereign risk has its roots in financial markets rather than in macroeconomic fundamentals.[1] The crisis-ridden Italy, which is now facing high level of political instability as well, has been manoeuvring not so dramatically since the end of 2012 when the Prime Minister Mario Monti resigned. In o
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