The paper presents the results of a reconstruction of the Italian public debt series since national unification. Computations use today�s statistical methodology to obtain a database consistent with the national accounts. The reference sector is general government, not the state sector, as...

Italian Abstract: Nel presente lavoro, utilizzando i dati raccolti nell'indagine sui bilanci delle famiglie italiane, si esaminano comparativamente le condizioni di benessere percepite dalle famiglie del Centro-Nord e meridionali, cercando di individuare i fattori in grado di spiegarne il...

Standard theoretical model cannot generate positive and large real bond risk premium under power utility preferences. Following recent developments in equity premium literature we explore bond premium in a long run risk environment with generalized isoleastic preferences. This approach explains...

Real interest rates, long run risks and business cycles. Standard theoretical model under power utility preferences generates time series for real yields and output that are not consistent with the cyclical properties of the macroeconomic data. In particular real interest rates of the model are...