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How sticky are local expenditures in Italy? Assessing the relevance of the ï¿½flypaper effectï¿½ through municipal data

Gennari, Elena; Messina, Giovanna - Banca d'Italia - 2012

An extensive literature analyses the impact of upper-tier transfers on the spending behaviour of lower level … services. But the actual local expenditure response to central government transfers is stronger than predicted by the theory … response to central government transfers. Our dataset enables us also to investigate the role of some political factors. We …

Persistent link: https://www.econbiz.de/10009645791

Just round the corner? Pros, cons, and implementation issues of a fiscal union for the euro area

Balassone, Fabrizio; Momigliano, Sandro; Romanelli, Marzia - Banca d'Italia - 2014

The experience of other successful monetary unions and economic theory suggest that the euro area would benefit from the establishment of a supranational fiscal capacity. Institutional reforms prompted by the crisis (e.g., the European Stability Mechanism and the banking union) are introducing...

Persistent link: https://www.econbiz.de/10011105103

German reunification and convergence policies

Oliva, Juan Carlos Martinez - Banca d'Italia - 2009

This paper examines German reunification from its inception. It shows that after the rapid expansion of the early years, former East Germany entered a phase of slow growth that made it impossible to bridge the gap with West Germany. Unemployment remains high, low growth rates appear ingrained,...

Persistent link: https://www.econbiz.de/10005092588

Public expenditure distribution, voting, and growth

Burlon, Lorenzo - Banca d'Italia - 2014

In this paper we study why the misallocation of resources across different productive sectors tends to persist over time. To this end we propose a general equilibrium model that delivers two structural relations. On the one hand, the public expenditure distribution influences the future sectoral...

Persistent link: https://www.econbiz.de/10011105139

Is there a role for funding in explaining recent US bank failures?

Bologna, Pierluigi - Banca d'Italia - 2011

This paper tests the role of different banksï¿½ liquidity funding structures in explaining the bank failures that occurred in the United States between 2007 and 2009. The results highlight that funding is indeed a significant factor in explaining banksï¿½ probability of default. By...

Persistent link: https://www.econbiz.de/10009350682

Perspectives on the current stance of monetary policy

Bullard, James - Federal Reserve Bank of St. Louis - 2013

February 21, 2013. Presentation. "Perspectives on the Current Stance of Monetary Policy." NYU Stern Center for Global Economy and Business, New York, N.Y.

Persistent link: https://www.econbiz.de/10010727318

U.S. monetary policy: still appropriate

Bullard, James - Federal Reserve Bank of St. Louis - 2012

June 29, 2012. Presentation. "U.S. Monetary Policy: Still Appropriate." Presented at Dialogue with the Fed, Little Rock, Arkansas.

Persistent link: https://www.econbiz.de/10010727330

U.S. monetary policy: easier than you think it is

Bullard, James - Federal Reserve Bank of St. Louis - 2013

February 14, 2013. Presentation. "U.S. Monetary Policy: Easier Than You Think It Is." Mississippi State University, Starkville, Mississippi

Persistent link: https://www.econbiz.de/10010727341

Four questions for current monetary policy

Bullard, James - Federal Reserve Bank of St. Louis - 2013

October 2, 2013. Opening Remarks. Given at the Federal Reserve/CSBS Community Banking Research Conference, Community Banking in the 21st Century, St. Louis

Persistent link: https://www.econbiz.de/10010727342

Opening remarks

Bullard, James - Federal Reserve Bank of St. Louis - 2013

April 11, 2013. Opening Remarks. Given at the 2013 Federal Reserve System Community Development Research Conference, Resilience and Rebuilding for Low-Income Communities: Research to Inform Policy and Practice, Washington, D.C.

Persistent link: https://www.econbiz.de/10010727348